Snap, the parent company of Snapchat, will lay off 10% of its employees around the world. The company will cut around 500 employees from its workforce, after two waves of payroll cuts in 2022 and 2023.
The social network, popular with young people in France, has often struggled to find a place against its competitors TikTok or Instagram. In January, Amazon announced cuts of several thousand jobs in several of its services, notably Audible audio books, and its online streaming service Twitch.