Snap Inc., the company that runs the popular Snapchat application, plans to lay off about 100 engineers, according to information gathered by CNBC. The company has a total of about 3,000 employees, but engineers are about a third of the hires, so that's a 10 percent cut in the people who physically develop the application and other systems used by Snap. The cuts are expected to be made within a few days and for now the company has not provided comments on the news released by CNBC.
For Snap it is the fourth reduction in staff in the last year, even if the previous ones had been less incisive and had involved a few dozen employees. The company is struggling to grow Snapchat, and its first year on the stock market was disappointing for many analysts. Things have not been better for its Spectacles, the glasses with a built-in camera that, after initial enthusiasm, now do not arouse much interest among users. Snap worked to redesign its application, but not all of the changes were liked by users, causing further image problems for the company.
