Snapchat reduces 7% workforce to reflect structural changes

Snapchat has made a 7% reduction in its workforce during March 2018 primarily in engineering and sales according to its regulatory filing.
The company said that the reduction in force was to align resources around its top strategic priorities and to reflect structural changes in its business.
Snapchat estimate to incur approximately $10m of pre-tax cash expenditures, substantially all of which will be severance costs. 
As a result of the reduction in force, Snapchat further expect to recogn