Snap Inc., the American camera and social media company that’s known to show the light of the day to technological products and services like Snapchat, Spectacles, Bitmoji, is in the early stages of planning layoffs, The Verge reported.
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The report suggests that this comes after the company “recently delivered disappointing earning results” and its stock price plunged following its failure to publish forecast earnings for the third quarter.
Snap Inc. spokespersons have reportedly refuted to comment on the latest developments. This comes amid a slew of layoffs by top firms across the world in view of financial crisis and the fear of an economic recession that’s looming large.
