Snap Cuts 16% Betting on AI Efficiency, Shares Surge Over 10% Premarket
TradingKey - Snap (SNAP) announced on Wednesday local time that it will lay off approximately 1,000 employees globally, accounting for 16% of its total full-time workforce, while closing more than 300 vacant positions. Following the news, the company’s shares rose over 10% in pre-market trading.
TradingKeyWed, Apr 15