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Snap to lay off 'approximately' 10% of its staff

The firm said in 2023 it had 5,000 employees, suggesting around 500 people are facing redundancy.

"We are focused on supporting our departing team members and we are very grateful for their hard work and many contributions to Snap," a spokesperson told the BBC. The latest job cuts come as companies, including Meta and Google, have been grappling with how to balance cost-cutting measures with the need to remain competitive. "In order to best position our business to execute on our highest priorities, and to ensure we have the capacity to invest incrementally to support our growth over time, we have made the difficult decision to restructure our team," the firm said.

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