Snap Inc., the parent company of Snapchat, has announced it will cut about 16 per cent of its global workforce, affecting roughly 1,000 employees, as part of a broad restructuring aimed at improving efficiency and accelerating its push toward profitability.
The company disclosed in a regulatory filing on Wednesday, April 15, 2026, that the layoffs will result in estimated charges of between $95 million and $130 million, covering severance and related costs.
Snap said the move is intended to streamline operations, reallocate resources to priority growth areas, and strengthen overall efficiency as it works toward achieving net income profitability.
According to its latest annual report, Snap had 5,261 full-time employees as of December 31, 2025.
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Chief Executive Officer Evan Spiegel also informed staff in an internal memo that about 300 additional open positions would not be filled as part of the restructuring effort.
The latest cuts extend a series of workforce reductions in recent years, following a 10 per cent layoff in 2024, a 3 per cent reduction in late 2023, and a larger 20 per cent workforce cut in 2022.
Snapchat continues to report strong user engagement, with about 474 million daily active users globally, according to company filings.
However, financial performance remains under pressure, with Snap reporting a net loss of about $460 million in 2025, even as revenue rose to approximately $5.9 billion.