đ° Full Story
Snap Inc. announced on April 15, 2026, it will lay off about 1,000 employees â roughly 16% of its full-time staff â and close more than 300 open roles as part of a restructuring aimed at reducing costs and accelerating a shift to AI-driven workflows.
The company, which had about 5,261 full-time employees at year-end 2025, said the cuts are expected to reduce annualised expenses by more than $500 million by the second half of 2026 and will incur one-time restructuring charges of $95 million to $130 million.
CEO Evan Spiegel said rapid advances in AI have allowed small teams and AI agents to generate a large share of new code (Snap said more than 65%) and to automate repetitive tasks.
The move follows pressure from activist investor Irenic Capital Management, which holds about a 2.5% economic interest and urged cost-cutting and portfolio optimisation, including recommendations around Snapâs AR glasses unit, Specs.
Snap forecast roughly $1.53 billion in first-quarter revenue and $233 million in adjusted core profit, and its shares rose in early trading after the announcement.
U.S.-based departing employees will receive four monthsâ severance, health coverage, equity vesting and transition support.






đŹ Commentary