Snap is the latest tech company to cut jobs, citing the growing ability of artificial intelligence (AI) tools.
The Snapchat owner has axed about 1,000 employees – 16% of staff – and withdrawn hundreds of open job roles, according to a financial disclosure.
Evan Spiegel, Snap’s co-founder and CEO, told employees the company was in “a crucible moment” and the goal of the cuts was to reduce yearly costs by $500m (£368m).
Spiegel said that workers who remain at the company will be using AI tools to “reduce repetitive work and increase velocity,” as “small squads” of employees have been doing in recent months.