Snap, the company behind social platform Snapchat, has now announced that it will reduce its workforce by 16%, impacting around 1,000 full-time employees of the company.
Snap said that advances in the field of artificial intelligence have allowed them to further optimize their operations, and have allowed Snap to operate with a smaller team. Snap emphasized that the small team supported by artificial intelligence has improved several features on the platform, including improved advertising performance, as well as improvements to the Snap Lite infrastructure.
In addition to the layoffs, they will also close more than 300 previously open positions. This reduction in staff is also expected to help Snap in its drive towards profitability, by reducing operating costs.
