Snapchat Fired 20 Product Managers to Boost Productivity

Nevertheless, this restructuring is on a smaller scale compared to last year, when the company laid off 1,300 employees.

A company spokesperson informed Engadget that the layoffs were aimed at streamlining the decision-making process, focusing on individuals situated between lower-level employees and higher-level managers.

The layoffs are also seen as a cost-cutting measure, with the resources saved intended to be redirected towards the company’s “core priorities.”

According to reports, Snapchat reported a 5% increase in revenue for the third quarter of 2023.

Snapchat recorded earnings of $1.19 billion, marking the first time it reached this figure in the past six months.

Snapchat cautioned investors about a downturn in advertising activities across social networks due to an influx of misinformation amid the war situation in the Middle East, leading to a slower rebound in the ad business.

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The job cuts at Snapchat, involving the layoff of nearly 20 product managers, are not expected to impact Snapchat’s products or features.