Following the recent layoffs of 150 engineers and content staff, Snapchat is continuing their rounds of massive downsizing this week. Approximately 100 more employees were let go, the sales and advertising staff taking the biggest hit.
The company saw massive growth in the past two years leading to lightning fast hiring which built a staff of 3,069 employees at of the end of 2017. After the not-so-loved update went public, things started to take a turn for the worse. The stock plummeted, user base went down, and a stream of bad press overtook the company.
As a result, the workforce is catching the ricochet of these unfortunate results. Snap’s chief strategy officer Imran Khan stated that “these changes reflect our view that tighter integration and closer collaboration between our teams is a critical component of sustainably growing our business. While this process has required us to make some really tough decisions, we believe that rigorously ensuring our team structure always aligns with our goals will make us stronger.”
Snap CEO Evan Spiegel previously stated that “a strong likelihood that the redesign of our application will be disruptive to our business in the short term, and we don’t yet know how the behavior of our community will change when they begin to use our updated application.”
Snapchat seems to be on a balance beam- its fate can go one way or the other. Only time will tell if the company can recover and come back strong like they once were.