Since the start of the year, more than 30,000 jobs have been lost in Silicon Valley. Latest announcement to date, that of Snap, the parent company of the social network Snapchat, which plans to cut 10% of its workforce, or around 500 people.
Snap, which essentially depends on advertising revenue, is still not profitable, unlike its rivals Facebook or TikTok. Its products like Spotlight and its paid Snapchat+ subscription have not had the expected results. This article is reserved for subscribers. You have 83% left to discover.