Business · 16 April 2026
Snap is cutting 1,000 jobs, 16% of its workforce, after AI took over 65% of its coding
Photo by Sanket Mishra on Pexels
Snap is laying off around 1,000 employees, roughly 16% of its full-time workforce, and closing over 300 open roles. CEO Evan Spiegel told staff that AI now generates more than 65% of the company's new code. The cuts will reduce annualised costs by over $500 million by the second half of 2026. US staff receive four months severance, healthcare and equity vesting.
Reported by TechCrunch / SEC filing / Variety · How we write briefs