Snap Inc. Is Reportedly Laying Off Nearly 100 Employees

The technology and social media company is reportedly laying off a chunk of its engineering department.

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Snapchat developer Snap Inc. has had more than its fair share of success. Not only did its time-based social media platform earn the company loads of money, it also inspired copycat features from other big-name services like Instagram. The road has had its speedbumps, of course, especially with weak adoption rates of the Spectacles glasses and the abysmal reaction to the latest Snapchat update. Now, Snap Inc. is reportedly trying to rethink its business strategy, and part of that equation looks to involve laying off a number of its own engineers.

According to a report from Tech Crunch, Snap Inc. expects to lay off as many as 100 individuals directly connected to the company's engineering department. Though no specific reasoning behind the decision was given, it's likely that the company's new approach is meant to re-focus its efforts on cameras and photography as a social media platform.

Aside from new efforts toward the popular ephemeral social media service, Snap Inc. is also reportedly interested in releasing a redesigned version of its signature Spectacles model of camera/glasses hybrids. In fact, anyone heading over to the official Snap website will be greeted by the simple statement that "Snap Inc. is a camera company," which may be surprising to those who only know the company through the Snapchat application.

News of these potential layoffs comes in shortly after a surprisingly profitable quarter, which reportedly saw Snap's stock raise substantially following a previous loss in 2017 after the company went public. With a worth somewhere in the ballpark of $22 billion, it's safe to say there's still time for Snap Inc. to find its own direction.

Guides Editor

Kevin Tucker is a core component of Shacknews' powerful guide development team. For questions, concerns, tips, or to share constructive criticism, he can be reached on Twitter @dukeofgnar or through e-mail at kevin.tucker@shacknews.com.

From The Chatty

  • reply
    March 7, 2018 2:00 PM

    Kevin Tucker posted a new article, Snap Inc. Is Reportedly Laying Off Nearly 100 Employees

    • reply
      March 7, 2018 3:33 PM

      Oh snap

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      March 7, 2018 4:08 PM

      I don’t feel like this story is really “on topic” for the site.. yes I know there’s been a broadening of what’s covered but this doesn’t feel remotely related to gaming

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        March 7, 2018 4:44 PM

        But do women get dingleberries?

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          March 7, 2018 4:48 PM

          Chattypics deded

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            March 7, 2018 9:54 PM

            just imagine his dog giving you a blank stare

      • reply
        March 7, 2018 5:03 PM

        Sweet. Critiquing news articles in the chatty thread again. HERE WE GO!

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          March 7, 2018 9:53 PM

          Dingleberries!

        • reply
          March 7, 2018 11:01 PM

          This critique is especially bad considering it is a story about a tech company and a huge amount of gamers use Snapchat.

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            March 8, 2018 2:31 AM

            I would say that none of the gamers I know have the slightest interest in Snapchat. That's anecdotal, but then so is your assertion. :) If this a post was about Discord, sure, that's primarily targeted at gamers.

            That said, if you want to realign the ShackNews... news posts to be more evenly split between tech and games, sure thing, totally your decision. However IMO doing so would water down the site's focus more and involves stepping into another heavily competitive, already very thoroughly served market where it's very hard to stand out against established competition. No?

            I know that's reading a lot into one post. :) Personally speaking, I don't mind occasional news posts about tech, but it's not what I come to the news section for and it does feel like blurring the focus slightly.

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              March 8, 2018 7:47 AM

              What is the average age of the gamers you know?

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                March 8, 2018 10:44 AM

                A fair question! Friends 30s, some cousins in their 20s. It still seems like a fairly tenuous connection given that it’s not traditionally used for gaming, but I know that’s splitting hairs.

                I guess my fair question in return is this - while mentions on finance sites drive increases traffic, do you know if it generates much repeat traffic? Or does the increase in visits justify it regardless? Genuinely interested to know! <3

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        March 8, 2018 3:08 AM

        Lol who cares

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        March 8, 2018 10:14 AM

        One could argue that social media is a game of sorts.

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      March 7, 2018 5:46 PM

      Its rampant in high schools. Used for bullying.

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      March 7, 2018 10:37 PM

      RIP my stock

    • reply
      March 7, 2018 10:39 PM

      We in der shacknews http://chattypics.com/files/iPhoneUpload_lzdg69w309.jpg

      • reply
        March 7, 2018 10:53 PM

        from stapler stories to being in financial news feeds. eat your heart out steve gibson

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          March 7, 2018 10:58 PM

          Being in Google Finance news is a huge win for this site considering I have spent years working on financial news reporting here.

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            March 7, 2018 11:00 PM

            ya im trying to see it as a positive thing now after realizing how much of a leap it is in terms of legitimizing the site.. just as long as they dont peep on the chatty. maybe put the chatty buried more. like you need to know a secret button somewhere on the site to access it

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              March 7, 2018 11:01 PM

              That attitude will kill this site.

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                March 7, 2018 11:02 PM

                im worried google will see the dingleberry talk

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                  March 7, 2018 11:03 PM

                  I think part of the beauty of Shacknews is that we can report on news like this and discuss dingleberries.

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                    March 7, 2018 11:04 PM

                    its like having your dingleberry cake and being able to eat it too

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                    March 8, 2018 5:52 AM

                    The stock markets are tumbling today after news of trade tarriffs.

                    But first, do women get dingleberries? Shacknews investigates.

          • reply
            March 8, 2018 4:55 AM

            Time for a shack giveaway!

        • reply
          March 7, 2018 10:58 PM

          But if you miss the site being on the verge of death, we can go back to writing about staplers.

          • reply
            March 8, 2018 3:05 AM

            "Then they switched from the Swingline to the Boston stapler, but I kept my Swingline stapler because it didn't bind up as much, and I kept the staples for the Swingline stapler and it's not okay because if they take my stapler then I'll, I'll, I'll set Shacknews on fire." Mr Waddams, guest writer for Shacknews, said on Monday.