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SNAP's market is dwindling, they have not been posting good quarterly reports, so this should come as no surprise to anyone why they're slashing this many jobs.
by incahoots 4y ago
SNAP's market is dwindling, they have not been posting good quarterly reports, so this should come as no surprise to anyone why they're slashing this many jobs.
All part of the business of being publicly owned. If you can't sustain the growth then you better start trimming the fat.
- nytesky 4y agoHas SNAP ever been profitable? It looks like it made $MM this year? https://techcrunch.com/2022/02/03/snap-finally-did-it-yall/ https://techcrunch.com/2022/02/03/snap-finally-did-it-yall/ I think it raised $5B in various funding rounds? It's been around a decade, and if its cutting 20% I can't imaging the future is bright?
- noSyncCloud 4y agoJust another flash in the pan. Three years after the kids move on, the markets will too
- whiplash451 4y agoThe same law applies to private companies. They are under board scrutiny instead of board + market scrutiny.