Snap Announces 10 Percent Job Cuts as Tech Layoffs Continue in 2024

Over 32,000 tech employees have been laid off by over 100 firms since the start of 2024.

Signage for Snap Inc., parent company of Snapchat, adorns the front of the New York Stock Exchange (NYSE) in New York on March 2, 2017. Drew Angerer/Getty Images

Snap Inc., the parent company of Snapchat, will be terminating over 500 workers, becoming the latest tech company to lay off a large number of employees this year.

“On February 5, 2024, we announced a plan to reduce our global headcount by approximately 10 percent of our global full-time employees,” Snap said in a filing with the U.S. Securities and Exchange Commission (SEC) on Monday.