Snap’s relentless cost-cutting has continued by cutting nearly 500 jobs in California.
The latest round of layoffs by the owner of Snapchat has seen 485 jobs cut – 84 in the Bay Area.
The Mercury News reports A further 44 jobs in Palo Alto and 40 in San Francisco have also been removed.
Scott Withycombe, vice president of Talent with Snap, wrote in the WARN notice to the Employment Development Department, “We informed employees of an impending layoff at Snap Inc.’s location in Palo Alto at 395 Page Mill Road, third floor.”
Snap said not all employees in the three locations would be affected by the cuts.
Over the past few years, Snap has generated rising revenue, but has also suffered hundreds of millions of dollars in losses.
In the 12 months ending in June 2022, Snap lost $831 million on revenue of $4.54 billion.
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The previous year it lost $498 million and in 2020, lost a colossal $944.9 million.
Last month, Snap revealed plans to cut 20 percent of its workforce, around 1,300 jobs.
The job cuts were effective on Sept. 1, the WARN notices state.
“We expect the layoffs to be permanent,” Snap stated in the WARN notice.