Snap cuts 16% of global workforce to fuel AI-driven growth

Snap is cutting about 1,000 jobs (roughly 16% of its global workforce) and closing more than 300 open roles, saying rapid advances in AI will reduce repetitive work and boost efficiency. The move is expected to save over $500 million in annualized costs by late 2026 as Snap pivots to profitable growth, expanding its subscription business and higher-margin ads while leveraging AI-enabled processes. U.S. employees will receive four months of severance, healthcare, and equity vesting, with North America staff working from home today; non-U.S. locations will follow local guidance.