Snap Inc., the parent company of Snapchat, has announced it will cut 1,000 jobs, representing about 16% of its full-time workforce, in addition to eliminating more than 300 other roles.
“While these changes are necessary to unlock Snap’s long-term potential, we believe that rapid advances in artificial intelligence (AI) allow our teams to reduce repetitive work, increase speed, and better support our community, partners, and advertisers,” said co-founder and CEO Evan Spiegel.
Spiegel highlighted the progress made by smaller teams using AI tools to drive initiatives such as Snapchat+, as well as improvements in advertising performance and infrastructure efficiency through Snap Lite.
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As a result of these changes, Snap expects to reduce its annual cost base by more than $500 million (€424 million) by the second half of 2026.
The company also anticipates incurring pre-tax charges between $95 million and $130 million (€81–110 million), mainly related to severance payments, contract termination costs, and impairment charges.
Most of these expenses are expected in the second quarter of 2026, although Snap noted that job cuts will depend on local labor laws, which may extend the process into the third quarter or beyond in some countries.
On the financial side, Snap forecasts total revenue of $1.529 billion (€1.297 billion) for the first quarter of 2026, representing a 12% year-on-year increase, along with an adjusted EBITDA of approximately $233 million (€198 million).
