In 2024, various technology companies begin to lay off employees to reorganize the company and re-strengthen their respective finances. Google, Lazada, TikTok and Microsoft have already laid off their employees. Recently, Snap, which is the company behind the Snapchat application, has not been spared.
According to a Techcrunch report, 10% of Snap's employees were laid off, which is around more than 500 employees. Snap says this is to reduce power differences within the company (hierarchy), while increasing face-to-face collaboration between employees. Not sure what Snap's plans are for Snapchat after this. Their efforts in physical products often fail. Maybe social media and software is all they should care about?
Recently, Snap has also updated Snapchat by bringing generative AI features and chatbots for users to enjoy new AI features without leaving the app. Snapchat now has over 400 million users, are you one of the active users?
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BUSINESS & MONEY