Crisis-hit Snap plans to axe over 1,000 employees
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Things are not going well at the Snap Inc. headquarters in Santa Monica, California. The company is planning to lay off approximately 20% of its employees, people close to the matter told The Verge. The parent of Snapchat currently employs over 6,400 people. This means that over 1,000 employees will get the axe. Snap has declined to comment on the report.