[BIG TECH]■ STORY TIMELINE
SNAP CUTS 16% OF WORKFORCE, BLAMES AI
Snapchat's parent company Snap Inc will lay off approximately 1,000 employees—16% of its staff—citing rapid artificial intelligence advancements. The cuts follow pressure from an activist investor and a declining stock price.
The Guardian — Technology+0m
Cuts by Snapchat’s parent company come in response to a declining stock price and pressure from an activist investor Sna…