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The company that owns the social media app Snapchat said on Wednesday that it is letting go of 20% of its staff as part of a plan to reorganize and cut costs because sales are going down.
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Shares of Snapchat parent company Snap Inc. were down as much as 7 percent Wednesday morning after the company said that its coronavirus-related user boost fizzled out sooner than it had anticipated. The disappearing-photo app said daily active users rose 17 percent year-over-year to 238 million in the second quarter, in line with Wall Street’s …
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Snapchat parent Snap Inc. on Tuesday reported revenue that demolished Wall Street’s expectations as millions of hunkered-down users stared at its app amid the coronavirus pandemic. The social network famous for its disappearing photos and messages said that it saw usage jump toward the end of March as people turned to it to communicate with …
The company that owns the social media app Snapchat said on Wednesday that it is letting go of 20% of its staff as part of a plan to reorganize and cut costs because sales are going down.
