Snap will reportedly lay off 20% of their workforce according to a report by The Verge. The company, which currently has 6,400 employees, will start the workforce reduction process starting tomorrow.
Among the parts of the business that will be affected are the hardware development part, the development of mini-apps in applications and even mapping. Just a few weeks ago Snap stopped development of the Pixy camera drone less than four months after its launch due to lack of response.
Snap, which was once one of the world's most popular social media platforms, began to suffer after features such as Stories began to be offered on rival platforms such as Facebook. Share values are also directly affected,
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