“Snap’s stock jumps on plans to axe 16% of its workforce citing AI efficiencies”
June 12, 2026
“Snap rose after announcing plans to lay off around 16% of its workforce.
CEO Evan Spiegel said AI advancements are helping staff work faster and reduce “repetitive work.”
The company expects to reduce its yearly expenses by over $500 million with the reductions…”
https://www.cnbc.com/2026/04/15/snap-stock-layoffs-16-percent-workforce.html