Snap is reportedly preparing to lay off around 100 developers and engineers over the next week.
The job cuts are mostly affecting 10% of the engineering department. However, it follows a round of cuts as recent as January at Snap when the company cut down its content division.
Back in September, Snap also laid off some employees within its hardware team. At the same time, Steve Horowitz was promoted to VP of Technology.
“It is never a good sign when a technology company lays off engineers thus the news that Snap is laying off 100 engineers, reportedly 10 per cent of its engineering workforce, does not bode well for the platform. Snap’s future as a tool for marketers has long been in question and the platform has hit a series of hurdles as it tries to measure up to its biggest rival, Instagram,” explained Yuval Ben-Itzhak, CEO at Socialbakers.
Ben-Itzhak adds that there has been quite some speculation on a possible acquisition by Apple.
“[It] doesn’t sound so far-fetched since Tim Cook clearly stated that augmented reality is the way forward and Snap is leading the way in AR technology. But whether these reductions in headcount could have an impact on a possible acquisition of the platform remains to be seen,” he added.