Snapchat Layoffs: Snap’s 7% Workforce Reduction Will Save $34 Million Annually
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snapchat-logo. CREDIT: Snap. Snap, parent company of Snapchat, said its recent layoffs of about 220 staffers will save it $34 million per year in salaries and taxes, as well as a one-time benefit of $31 million related to stock-based comp forfeitures. The company made the disclosure Friday in an SEC …