The popular social network Snapchat announced this Monday, February 5, that a total of 528 employees will be laid off in a restructuring of its business. The company explained that this measure is necessary to strengthen and ensure future growth. However, this staff cut will come at a significant cost, with an estimated $55 million to $75 million in severance and other expenses.
The decision to lay off workers is not a new development in the technology industry, which has witnessed a trend of staff cuts in recent years. Since the beginning of 2024, more than 32,000 people have lost their jobs in the technology and media sector, which has generated concern in the labor community.
This is not the first episode in which Snapchat has faced criticism for its personnel management. It has been reported that since 2022, a total of 2,000 employees have been laid off or have resigned voluntarily, representing a 30% decrease in its workforce. This trend has also been reflected in other companies in the technology sector such as Microsoft (1,900 employees), eBay (1,000 employees), Riot Games (530 employees). The media industry is also adding to these massive layoffs. The Los Angeles Times recently announced the departure of 115 people and Business Insider laid off 8% of its workforce.
It is important to note that these decisions are not easy for any company, especially in an economic context with many uncertainties. However, they are necessary to stay ahead of the curve and continue to grow in a highly changing and competitive market. Despite the obstacles, Snapchat and other companies in the industry have the ability to renew themselves and adjust to the new demands of users and the market to ensure their long-term success.
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