Snap Lays Off 20% of Staff, Increases Long-term Focus on Augmented Reality

Snap Inc, the company behind Snapchat, announced it’s laying off a fifth of its staff and abandoning a number of projects as it bids to rebound with a more singular focus on becoming a leader in augmented reality in the future.Snap, the company behind Snapchat, says in a blog post it’s laying off 20 percent of its 6,400 employees, or around 1,300 people dispersed across multiple teams.
The company says it’s increasing focus on three specific areas: community growth, revenu