Bengaluru: Snapchat parent Snap Inc is laying off nearly 10 per cent of its engineering team, or about 100 people, CNBC reported on Wednesday. The layoffs would be Snap’s largest yet and the first to affect its engineers, CNBC said. Snap declined to comment when contacted by Reuters. Business news website Cheddar, which earlier reported the layoffs on Wednesday, said the cuts would be announced internally within a week. The Venice company has about 3,000 employees. The reported layoffs would mark the third and largest round of reductions at the social media company since it went public a year ago.
The Snap Inc. logo appears on a screen above a trading post on the floor of the New York Stock Exchange.
Image Credit: Snap
