Snapchat preparing largest layoff yet, cutting 100 engineering jobs
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Snapchat is cutting about 10% of its engineering team, or roughly 100 people, Cheddar's Alex Heath reports.
Why it matters: The company has experienced much smaller rounds of layoffs within the last few months. These layoffs, which follow closely behind a major redesign of the company's app, would be the largest to date for the roughly 3,000-person company.
Background: Heath says employees, likely engineering employees, sprinted to get Snapchat's recent redesign finished, as a rushed directive from CEO Evan Spiegel. Snapchat's SVP of Engineering Tim Sehn parted ways with the company in November.
- As Axios noted when the company laid off two dozen staffers in January, Snapchat CEO Evan Spiegel said last year that all managers would be assessing their team sizes and locations, which could mean hiring, cuts or no change.
- While today's cuts shouldn't be shocking, they are notable given their scale and that they are occurring within its engineering department. Prior layoffs involved staffers that were not as close to the core product.
- The app underwent a redesign last month that received some pushback from users. Snap stock currently sits a little higher than it did when the company initially went public around this time last year. Shares were down slightly following the news Wednesday.