Snapchat just laid off 100 employees, which apparently doesn't "bode well"
What would life be if you couldn’t laugh at a funny Snapchat video of your bestie in a unicorn filter? We’re currently imagining that terrible reality — because Snapchat just laid off 100 of its engineers, and um, that can’t be good, right? This is the latest round of Snapchat layoffs after 24 employees were let go in January 2018 and about a dozen more jobs were cut from Snapchat’s hardware team in September 2017.
Yuval Ben-Itzhak, head of a leading social media management platform, told Mobile Marketing that this decision does not “bode well” for Snapchat.
Forbes reports that Instagram Stories’ user rates are 28% higher than Snapchat’s, with Snapchat usage decreasing 15% for some social media stars. It’s also just plain harder to find influencers because of Snapchat’s particular search function. Meanwhile, Instagram efficiently suggests users and influencers based on a person’s likes and follows.
And while the Snapchat layoff news looks kind of grim right now, it doesn’t sound as though the company is looking to call it quits any time soon. Plus, there’s been speculation that Apple might buy Snapchat. So hope/unicorn filters are not all lost!