Sign up for our daily briefing
Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.
Stay on top of the latest market trends
Subscribe to Axios Markets for the latest market trends and economic insights. Sign up for free.
Sports news worthy of your time
Binge on the stats and stories that drive the sports world with Axios Sports. Sign up for free.
Tech news worthy of your time
Get our smart take on technology from the Valley and D.C. with Axios Login. Sign up for free.
Get the inside stories
Get an insider's guide to the new White House with Axios Sneak Peek. Sign up for free.
Catch up on coronavirus stories and special reports, curated by Mike Allen everyday
Catch up on coronavirus stories and special reports, curated by Mike Allen everyday
Want a daily digest of the top Denver news?
Get a daily digest of the most important stories affecting your hometown with Axios Denver
Want a daily digest of the top Des Moines news?
Get a daily digest of the most important stories affecting your hometown with Axios Des Moines
Want a daily digest of the top Twin Cities news?
Get a daily digest of the most important stories affecting your hometown with Axios Twin Cities
Want a daily digest of the top Tampa Bay news?
Get a daily digest of the most important stories affecting your hometown with Axios Tampa Bay
Want a daily digest of the top Charlotte news?
Get a daily digest of the most important stories affecting your hometown with Axios Charlotte
Photo: Jaap Arriens / NurPhoto via Getty Images
Snap Inc. is laying off 100 people, Bloomberg reports. Most of the jobs being eliminated are in sales, but a few are in other functions, according to sources within the company.
Why it matters: This is the latest of several rounds of layoffs at the company, as it undergoes a restructuring both to bring more people to its headquarters in Los Angeles and to focus more on new company priorities, like Snapchat's redesign. Sources say this round of layoffs will largely be the last for now.
Our thought bubble: Snap has done a lot of restructuring to its ad product, including shifting more of its resources to automated ad sales, which require less people to execute. According to Snapchat, 90% of its ads are now sold programmatically — in an automated fashion.
- The layoffs follow the elimination of roughly 120 engineering jobs earlier this year. Around two dozen human resources staffers were also let go in January, as the company announced plans to slow hiring as it reached a point of maturity post-IPO.
- The 3,000-person company is led by 27-year-old CEO and founder Evan Spiegel. Spiegel said last year that all managers would be assessing their team sizes and locations.