Snapchat blames AI as it cuts 1,000 jobs
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Snapchat's parent company, Snap, has cut 1,000 jobs, citing the growing ability of artificial intelligence tools. The company aims to reduce yearly costs by $500m and will use AI tools to increase efficiency and velocity.
Snap, the owner of Snapchat, has cut about 1,000 jobs, 16% of its staff. The company has also withdrawn hundreds of open job roles. This is the third large-scale layoff at Snap since 2022. The goal is to reduce yearly costs by $500m. Remaining employees will use AI tools to reduce repetitive work and increase velocity. Other tech companies, such as Amazon and Meta, have also made job cuts this year, citing the increased capability of AI technology.
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