The owner of social media platform Snapchat said Wednesday it's eliminating about 16% of its global workforce, or about 1,000 jobs that will be culled in its latest round of layoffs.
Snap Inc. said in a regulatory filing that the job cuts will cost about $95 million to $130 million in severance payments and related costs.
"The headcount reduction is designed to further streamline our operations and reallocate resources toward our highest-priority initiatives, leveraging increased operational efficiencies to accelerate our path toward net-income profitability," the company said in its filing.
Snap had 5,261 full-time employees as of Dec. 31, 2025, the company said in its latest annual report.
CEO Evan Spiegel said in a letter to staff that another 300 open roles would not be filled.
It's not the first time the Santa Monica, California-based company has eliminated jobs. In 2024, Snap cut 10% of its workforce, or about 530 employees.
Snap cut 3% of its staff in late 2023, and in 2022 it slashed its workforce by 20%.
Snapchat, which is popular with young people and known for its disappearing photos and videos, has 474 million users every day, on average, according to the annual report.
Snap said in its latest earnings report that its net loss in 2025 narrowed to $460 million, as revenue rose to $5.9 billion.
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