Snapchat has recently taken a decision that is being viral on social media. More than one-fifth of its job position is going to be shut down by the corporation. Also, they are cutting down a new project. It is a rumor that most of those employees were from the new project.
What does the company have to say about it?
The CEO of Snapchat has mentioned a few things about the recent decision. Mr. Evan Spiegel mentions that this decision was made because they had to be in the free marketplace. Previously they made some cut-offs from the apps, but this drastic decision was long coming.
What other facilities have been stopped?
Many features have been stopped in recent days because of the budget shortage. But they were not that popular among people anyway. Projects like mobile games, small drones, and drone selfies were rejected from the app.
What’s new?
High inflation in the global economic situation and unsteady world politics is the main reason for the cut-off done by the company. Many small and big businesses have done some cuts like that. But Snapchat is the one that publicly announced its issue.