Snapchat announces massive layoffs: Artificial intelligence will replace part of the work currently performed by employees

The company Snap, which owns the Snapchat application, has announced massive layoffs, laying off approximately 1,000 employees, equivalent to 16% of the staff, in the context of the accelerated development of artificial intelligence.

CEO Evan Spiegel informed employees that the company is going through a 'critical moment' and that it will adopt a more efficient working model, in which AI will take over some activities. The goal of these cuts is to reduce annual costs by $500 million. This is the third major round of layoffs at Snap since 2022, and Spiegel emphasized that the remaining employees will use AI tools to reduce repetitive work. His statements come in the context in which activist investor Irenic Capital Management has criticized the company's financial performance.