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Pink Slips At Snapchat


Snap Inc. (SNAP) is laying off "just over" 120 employees from its engineering team over the next few days.

The layoffs were announced in an email to Snap employees by Jerry Hunter, the company's engineering chief. The news was first reported by Cheddar.

This is for the second time this year that Snap is laying off employees. The company had fired 22 employees in the middle of January.

Hunter, in the email obtained by Cheddar, said the layoffs are meant to strengthen Snap's engineering team.

"I know this is a challenging moment, but I am convinced that this is an important step to help us build the future of Snap," Hunter wrote.

He said the changes will allow the company to "[address] the technical debt that we have accrued over the years so that we can develop a product that engages customers and drives Snap forward."

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