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Snapchat owner Snap Inc to cut more than 500 jobs | Business News<\/p>\n
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The owner of Snapchat has become the latest tech firm to announce job cuts.<\/p>\n
Snap Inc said it would shed approximately 10% of its workforce – around 530 employees – with most of the roles expected to go in the first quarter.<\/p>\n
The disclosure was made in a regulatory filing, which also revealed the company expects to face charges of up to $75m (\u00a360m) in severance payouts and other related costs.<\/p>\n
The California-based firm employs more than 5,300 staff globally, including around 500 in the UK.<\/p>\n
A Snap spokeswoman told Sky News it was unable to say at this stage if any posts at its London offices would be affected.<\/p>\n
She added: “We are reorganising our team to reduce hierarchy and promote in-person collaboration.<\/p>\n
“We are focused on supporting our departing team members and we are very grateful for their hard work and many contributions to Snap.”<\/p>\n
Snap Inc previously announced plans to cut around 20% of its workforce in 2022.<\/p>\n
Read more from business:<\/strong> Around 406 million people use Snapchat<\/strong> every day on average, according to the firm. It also has more than 5 million Snapchat+ subscribers.<\/p>\n Other tech companies to announce job losses recently include Microsoft<\/strong>, which plans to shed 1,900 employees and online retailer eBay<\/strong>, which is planning to cut 1,000 roles.<\/p>\n Meta<\/strong>, the owner of social media brands Facebook and Instagram, also announced 10,000 redundancies<\/strong> last year.<\/p>\n Shares in Snap fell 4% following the announcement on Monday.<\/p>\n The firm is due to reveal its fourth quarter results on Tuesday.<\/p>\n<\/p><\/div>\n \u0627\u0644\u0645\u0635\u062f\u0631<\/a>
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