Snap announces more layoffs amid content struggles


Snap has just laid off 22 employees, a sign that the company is continuing to struggle with slow user growth. The staff cuts affected teams across the company, but the content team was particularly hard hit. According to The Information, Snap's content team has now consolidated operations in its Venice Beach, CA location, when it was previously headquartered in both Venice as well as New York City.

While Snap has been heavily investing in original content and Snapchat shows, there's a high level uncertainty around how successful they actually are. NBC Universal claims its Stay Tuned show has over 29 million viewers The Rundown from the E! Entertainment Network makes over a $1 million in revenue from the app, but it's difficult to verify these numbers, as Snapchat doesn't disclose metrics and monthly active users. CNN, for example, has killed its Snapchat show because "there wasn't a clear enough path to make money."

Snap has been struggling in other areas too. It's had to reshuffle its hardware plans as Spectacles wasn't the success the company thought it would be, and it's also planning a big app redesign to attract more users. The redesign is said to emphasize user-based content over branded ones, and will split your friends' messages and stories into different sections.

According to a memo leaked to Cheddar, CEO Evan Spiegel said: "The journey is long, the work is hard, but we have and we will consistently, systematically, out-innovate our competitors with substantially few resources and in far less time."

Source: Cheddar

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