Snapchat Layoffs: The process of layoffs in the tech industry is showing no signs of stopping. We are giving you information about the latest layoffs.
Snapchat Layoffs: With the beginning of the new year, many big companies have announced large-scale layoffs of employees. Now the name of another giant tech company, Snapchat’s parent company Snap, has also been added to this list. The company has recently decided to fire 10 percent of its workforce i.e. 529 employees. Before this, many companies including Google, Amazon have decided to fire more than 30 thousand employees.
The company has already done several rounds of layoffs
Snapchat’s parent company Snap has already announced several rounds of layoffs. The company had fired 20 percent of its employees in the year 2022 and 3 percent in the year 2023. In the year 2023, the company had a total workforce of 5,300 employees. It is worth noting that the company has been going through difficult times due to decline in its revenue for a long time. While talking to CNBC, Snap has informed that he is organizing all the teams working there.
Layoffs are not stopping in tech sector
According to the news of Layoffs.fyi, a company that maintains layoff data, more than 32,000 tech employees have lost their jobs since the beginning of 2024. The names of a total of 122 tech companies are included in the list of layoffs. Apart from Snap, giant tech company Salesforce has decided to fire about 700 employees after the latest round of layoffs. This is 1 percent of the company’s workforce.
The process of layoffs across the world has been going on since the beginning of last year and even at this time companies are continuously reducing their workforce. Especially in companies and firms of the technology sector, news of layoffs and layoffs are increasing. Experts say that the main reason for this is the huge amount of hiring in view of the needs of work from home during the Covid period and after the crisis is over, the effect of the end of the needs of these jobs is being seen in the form of retrenchments.
