The parent company of the Snapchat app, called Snap Inc. reported that around hundred employees are being laid off once again from the company.
This lay off is reported as the second lay off from the company within a month. Earlier in March, the company laid off a hundred people from their engineering department and this time, it’s turn of the sales and advertising one.
The Chief Strategy Officer of Snap Inc., Imran Khan said in a statement “Over the past two years our company has grown a tremendous amount. Late last year we asked senior leaders across Snap to look closely at their teams to ensure they had the right resources and organizations to support their missions. As a result, new structures have been put in place for Content, Engineering, Sales and many other parts of Snap.”
According to the analysts, there is a possibility that Snap Inc. is cutting jobs in the advertising and sales department due to some changes in their plan for making more revenue.
Although Snap Inc. has refused to tell whether more lay offs are coming or not, we can not be sure about anything.
It should be noted that these frequents lay offs started taking place after the company faced constant criticism by the users on the new design of the Snapchat app which made the company lose thousands of followers including many famous celebrities who were loyal very to Snapchat.
The parent company of the Snapchat app counted over 3,000 employees working in the company at the end of the end, 2017. It was also reported that Snap also let go of 22 people back in January from its content team in 2018.
Snap went public a year ago and at the end of last year, its stocks were surprisingly very high. Now, the company’s shares price is $17, which is less than their basic public offering price.