Snap is cutting roughly 1,000 jobs, or 16% of its full-time workforce, as CEO Evan Spiegel cites AI-driven efficiency gains and pursues more than $500 million in annualised cost savings. The layoffs follow a public campaign by activist investor Irenic Capital Management, which had explicitly recommended eliminating about 1,000 roles. SNAP shares jumped roughly 8% […]

This story continues at The Next Web