Snap Says AI Advancements Partly Responsible For Worker Downsizing -- Market Talk

Dow Jones

04/15

0944 ET - Snap says it can cut around 1,000 jobs, roughly 16% of its full-time workforce, in part because of AI. "Rapid advancements in artificial intelligence enable our teams to reduce repetitive work, increase velocity, and better support our community, partners, and advertisers," CEO Evan Spiegel says in a memo to employees announcing the layoffs. The social-media company's job cuts come as it faces pressure from investors over its struggles for profitability. The cuts are intended to increase efficiencies, reducing Snap's annualized cost base by more than $500 million by the second half of 2026. Snap jumps 6.5% in early trading. (connor.hart@wsj.com)

(END) Dow Jones Newswires

April 15, 2026 09:44 ET (13:44 GMT)

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The social-media company's job cuts come as it faces pressure from investors over its struggles for profitability. The cuts are intended to increase efficiencies, reducing Snap's annualized cost base by more than $500 million by the second half of 2026. Snap jumps 6.5% in early trading. 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The social-media company's job cuts come as it faces pressure from investors over its struggles for profitability. The cuts are intended to increase efficiencies, reducing Snap's annualized cost base by more than $500 million by the second half of 2026. Snap jumps 6.5% in early trading. 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