AI was the leading reason U.S.-based employers cited for layoffs in March. Snap just joined the club.
Spiegel, whose personal fortune is pegged by Forbes at $2.3 billion, said he was “deeply sorry” in a staff memo announcing the cuts, which amount to 16% of the Snapchat parent's overall workforce.

Snap Inc blames AI as it lays off 1,000 workers

11:23am, Wednesday, 15'th Apr 2026
Cuts by Snapchat's parent company come in response to a declining stock price and pressure from an activist investor
Snap Inc (NYSE:SNAP) shares added more than 7% on Wednesday morning after the social media company unveiled plans to cut about one-sixth of its global workforce, a move aimed at boosting efficiency an
SANTA MONICA, Calif.--(BUSINESS WIRE)--Snap Inc. (NYSE: SNAP) will hold its quarterly conference call to discuss first quarter 2026 financial results on Wednesday, May 6, 2026 at 2:00 p.m. Pacific Tim
Snap Inc. said on Wednesday it would lay off about 1,000 employees, or roughly 16% of its full-time workforce, as the social media company moves to streamline operations under pressure from an activis
Wall Street continues its trend of cheering news of large layoffs in the technology sector.
The social media company is attempting to streamline operations and accelerate its path to profitability.
Snap rose in premarket trading after announcing plans to lay off around 16% of its workforce. In this article SNAP
NEW YORK, April 14, 2026 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Snap, Inc. (“Snap” or the “Company”) (NYSE: SNAP).  Such investors are advised to
Snap stock price rose by 6% on Monday, outperforming other popular companies as the management announced its progress in artificial intelligence (AI) and virtual reality. It jumped to $5.15, up modest
In the most recent trading session, Snap (SNAP) closed at $4.82, indicating a -2.63% shift from the previous trading day.
Snap Inc (NYSE:SNAP) has announced a new multi-year agreement with Qualcomm Inc (NASDAQ:QCOM, XETRA:QCI) to power future generations of its augmented reality (AR) eyewear with Snapdragon processors.
Live Updates The analyst who called NVIDIA in 2010 just named his top 10 AI stocks Wall Street is pouring billions into AI, but most investors are buying the wrong stocks. The analyst who first identi
This once-hot stock has fallen out of favor and has remained so for some time. As Warren Buffett has said, however, “You can't buy what is popular and do well.
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