One time apparently invincible technology sector is in an epic downturn.
With SnapChat revealing its letting go of 20 per cent of its workers.
Snap, the parent company of Snapchat, is to lay off 20 percent off its employees. Snap appears to have experienced a post-pandemic downturn just like a number of its tech contemporaries. After a familiar hiring splurge in reply to a world that was locked down and keen to reach and also touch {someone|others|people|friends| electronically, the company has endured a tight 2022.
Snap CEO announced, in a memo to staff members on Wednesday, that the organization must now cope with the repercussions of its much lower revenue growth and also adjust to the marketplace environment. He then continued to explain that Snap would cut down the size of the team by roughly 20 per cent.
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