Snap is laying off 16 percent of its workforce, blames AI

Snap is laying off around 1,000 staff, amounting to 16% of its workforce, which it will seemingly replace with AI. The cuts were announced in a company-wide memo from CEO Evan Spiegel, who added that than 300 open roles are also being closed. Spiegel said the "incredibly difficult" decision would likely save Snap than $500M by the second half of 2026, in turn helping it to "establish a clearer path to net-income profitability." Impacted staff were notified by email and the company’s North America-based team were instructed to work from home.