Snapchat parent company is planning to layoffs 150 Employees.

Snap Inc. is a parent company of Snapchat. the layoff is expected from the augmented Reality Division team and it is a second round of layoff as a part of restructuring.

Snap Inc layoffs

Snap Inc is gearing up for another round of layoffs because of restructuring as expecting approximately 150 employees from the Augmented Reality (AR) Division can be affected.

But The company has not yet made an official announcement maybe coming later this week will be expected in the Verge Report.

Snap CEO has announced a layoff in 2022, Which is 20% of the company’s workforce of 1280 employees and the total employee count is 6400 because of lower revenue growth and lack of adapting market environment.

The current year’s revenue growth of Snapchat’s performance hasn’t been strong. Snap reported $1.7 billion of revenue in the second quarter, Which is higher than the previous quarter but less than the same period of last year.

Snap business in India Earlier in May, Snapchat celebrated an amazing milestone of 200 million active users in Snapchat out of which 120 million users actively engage on stories and spotlight sections in Snapchat.