Earlier this month, amidst rumors, Snapchat parent company Snap, Inc. laid off around 120 engineers. Today, the company announced that it would be laying off another 100 employees, mostly in the advertising and sales units.
Imran Khan, the company’s chief strategy officer, sent out an email regarding the decision and the reasoning behind it, alluding to “tough decisions” that needed to be made in the face of restructuring.
“As a result, new structures have been put in place for content, engineering, sales and many other parts of Snap,” Khan said. “These changes reflect our view that tighter integration and closer collaboration between our teams is a critical component of sustainably growing our business.”
The company was recently hit with waves of bad press following a social media post from Kylie Jenner and a tasteless ad that made it through its quality control process referencing Rihanna’s history with domestic abuse at the hands of Chris Brown.
After the second incident, word came out that Snap’s market value fell by around $800 million.
via LA Times