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The Independent UK
The Independent UK
Business
Katie Hawkinson

Snapchat to lay off 16% of its workforce as it struggles financially

Snap Inc., the company that owns the social media platform Snapchat, is laying off about 16 percent of its full-time workforce.

The move will impact about 1,000 employees, CEO Evan Spiegel announced Wednesday. The company is also closing about 300 open roles.

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