Snap Cutting 16% Of Full-Time Workforce; CEO Evan Spiegel Says AI Offers “New Way Of Working”

Snap Inc. is laying off 16% of its full-time workforce, or about 1,000 employees, with CEO Evan Spiegel declaring that “a new way of working” is now possible thanks to artificial intelligence. In a memo to employees (read it below), Spiegel said the move would reduce costs by $500 million a year. As of the […]