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Snapchat Layoff 2024: Snapchat is to layoff 529 employees due to severance and associated expenses and other charges.

Snapchat Layoff 2024: Social media platform Snapchat to layoff over 500 employees

Snapchat will layoff 529 employees and has estimated $55 million to $75 million for severance and associated expenses and other charges

Social media platform Snapchat to layoff over 500 employees

<h2>Snapchat will layoff 529 employees and has estimated $55 million to $75 million for severance and associated expenses and other charges</h2>

Layoff 2024: Social media platform Snapchat's parent Snap has announced the layoff of 10% of its workforce affecting 529 employees, in a fresh round of job cuts. As per a regulatory filing, the Snapchat parent is expecting to incur pre-tax charges, mainly comprising severance and associated expenses, as well as other charges, with an estimated range of $55 million to $75 million.
<h3>Snapchat Layoff 2024: Severance Expense</h3>
Out of this estimated range, Snap has estimated $45 million to $55 million to be future cash outlays. The firm further added in the regulatory filing that the primary &nbsp;timeframe for incurring the majority of these costs is expected to be the first quarter of 2024.&nbsp;
Also Read: <a href="https://www.editorji.com/business-news/societe-generale-announces-900-job-cuts-at-paris-headquarters-in-strategic-cost-cutting-move-1707141051541">Societe Generale announces 900 job cuts at Paris headquarters in strategic cost-cutting move</a>
&ldquo;On February 5, 2024, we announced a plan to reduce our global headcount by approximately 10% of our global full-time employees. In order to best position our business to execute on our highest priorities, and to ensure we have the capacity to invest incrementally to support our growth over time, we have made the difficult decision to restructure our team.," Snap said in a filing with the SEC.
<h3>Tech Layoffs</h3>
According to Layoffs.fyi some 32,000 tech workers have lost their jobs in 2024 so far. Bloomberg quoted Founder of Layoffs.fyi Roger Lee and said that most of the companies are working to correct the massive hiring that happened during the pandemic time.&nbsp;
"Tech companies are still trying to correct for their over-hiring during the pandemic surge, given that the high interest-rate environment and tech downturn have both lasted longer than initially expected," Layoffs.fyi founder Roger Lee wrote in an email to Bloomberg.
As per Lee there have been two main waves of job cuts in recent years. The "early Covid" spike, from the first to second quarters of 2020, and the "interest rate hike" effect, which has been going on since the second quarter of 2022. "This year's layoffs are typically smaller and more targeted than the layoffs a year ago," Lee said.
Despite this, Lee also noted that hiring in AI field has increased as companies are shifting resources to focus on AI talent. According to an analysis by CompTIA, which tracks employment trends in the tech industry, job postings in "artificial intelligence or requiring AI skill increased by about 2,000 from December to January, to 17,479."

A new Snapchat survey shows India’s most used nicknames, while also revealing that 96 percent of Indians have had a nickname at some point in their life.

Snapchat unveils India's top nicknames: Exploring India's fascination with nicknames

<h2>A new Snapchat survey shows India&rsquo;s most used nicknames, while also revealing that 96 percent of Indians have had a nickname at some point in their life.</h2>

Snapchat, the popular visual messaging app, has released a new research in partnership with YouGov on Indian nickname culture, uncovering a national fascination with nicknames.
The research reveals some of the most popular nicknames in the country, including Sonu, Babu, Chotu, Anu and Chintu. It also unearths some interesting insights into the unique subculture of nicknaming in India.
&ldquo;Nicknames are such an integral part of Indian lives and given to us by our real connections &ndash; friends or family,&rdquo; said Kanishka Khanna, Director Media Partnerships - APAC, Snap Inc.&nbsp;
&ldquo;We wanted to share some fun findings on Indian nicknames &ndash; from the weird and wacky to the oddball, romantic and downright hilarious, this custom nickname AR experience will help bring users closer to their inner circle and enable the fun and joy of sharing nicknames.&rdquo;
The survey revealed that the majority of Indian Gen Zs and young Millennials love to use their nicknames online. The reasons for this, besides keeping names snappy, are to seem cool, to safeguard their privacy and because nicknames can be easier to remember.&nbsp;
Unsurprisingly, data shows that over 96 percent of Indians have used a nickname at some point in their lives.
In India, nicknames go beyond mere labels; they play a significant role in defining individual identities.&nbsp;
The survey further revealed that Indians use nicknames to build deeper connections and validate relationships. Then, 67 percent of Indians revealed that they use nicknames to feel closer to someone. &nbsp;
This reiterates the emotional connection and cultural attachment associated with the concept of nicknaming in India.
Among the people who have ever had a nickname, 60 percent confirm that they received their nicknames either during childhood or their school years. However, the nickname received before school is the one that most still go with, highlighting the lasting impact of early connections to one's identity.
Snapchat&rsquo;s two new Nickname Lenses will be available on Snapchat in India from June 21. Just search for &lsquo;IN&rsquo;s Top Nicknames&rsquo; and &lsquo;My Nickname IN&rsquo; in the lens carousel and simply point your phone to your face to get in on the fun.
Also watch: <a href="https://www.editorji.com/tech-news/anticipated-oneplus-12-and-oneplus-ace-2-pro-specs-revealed-check-full-details-here-1687262998680">Anticipated OnePlus 12 and OnePlus Ace 2 Pro specs revealed: Check full details here!</a>

No one expected an AI chatbot inside Snapchat, but here we are!

Snapchat gets My AI, a GPT-powered chatbot

No one expected an AI chatbot inside Snapchat, but here we are!

Snap has recently announced the launch of its experimental AI chatbot, called My AI, that runs on the latest version of OpenAI's GPT technology.
My AI will be available to Snapchat+ subscribers initially and may roll out to all Snapchat users in the future. Snap says that the chatbot may commit mistakes in the initial phase, but the company aims to avoid any biased, incorrect, harmful, or misleading information through it.&nbsp;
Snap will be saving conversations to review the chatbot and make further changes based on the user feedback. The company has also requested users to avoid sharing secrets and personal information with the AI chatbot.&nbsp;
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Snapchat for Windows is now available on the Microsoft Store for free.

Snapchat launches a dedicated app for Windows

Snapchat for Windows is now available on the Microsoft Store for free.

Snapchat had been exclusive to mobile devices for a number of years before making its web debut in July of this year.&nbsp;
Now available in the Microsoft Store is a Snapchat app specifically designed for Windows. Snapchat for Windows is available to all Snapchat users at no cost.
However, it lacks a number of features present in the iOS and Android apps. However, the fundamental features are present, including the ability to respond to chats with video filters.&nbsp;
Snap Inc. has also promised to add more features in the future if demand warrants it.
Also watch: <a href="https://www.editorji.com/tech-news/whatsapp-data-leak-phone-numbers-of-500-million-users-are-up-for-sale-1669627250393">WhatsApp data leak: Phone numbers of 500 million users are up for sale</a>

Since January, Snap's stock has lost roughly 80 percent of its value, and the company indicated in May that it will reduce costs.

Snap plans to lay off 20 percent of its employees

Since January, Snap's stock has lost roughly 80 percent of its value, and the company indicated in May that it will reduce costs.

According to <a href="https://www.theverge.com/2022/8/30/23329301/snap-layoffs-20-percent-employees-snapchat" target="_blank" rel="nofollow noopener">The Verge</a>, Snap Inc. plans to cut off around 20 percent of its around 6,400 employees.
The report claims that the layoffs, which Snap has been planning for some weeks, will begin on August 31 and will affect some departments more than others.
For instance, the team working on ways for developers to create Snapchat mini-apps and games may be badly affected. Zenly, a social mapping startup that Snap acquired in 2017 and has since operated independently, will also experience a lot of layoffs.
Snap's hardware group, which is responsible for its AR Spectacles eyewear and the Pixy camera drone that was discontinued after just a few months on the market, will also see layoffs.
Snap's chief commercial officer, Jeremi Gorman, is leaving to oversee advertisements for Netflix, resulting in a restructuring of the company's ad sales division.
Even while the magnitude of the layoffs is substantial, it shouldn't necessarily come as a shock. Since the beginning of this year, Snap's stock has lost about 80 percent of its value, and the business said in May that it will reduce employment and search for cost-cutting opportunities.
Snap Inc. has not done well after the pandemic due to worries of a recession and difficulties negotiating Apple's ban on ad tracking across iOS applications.
Snap has 347 million daily users, which is more than Twitter, but it has only turned a profit once since going public in 2017.&nbsp;
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1200 employees to be fired in a snap? Snap CEO Evan Spiegel confirmed that the company is laying off 20 per cent of its workforce, roughly 1,280 employees as the company "must face the consequences of lower revenue growth and adapt to the market environment".The job cuts at Snap were coming after the company posted disastrous quarterly results as it suffered nearly $10 billion loss and its shares hit a new 52-week low. The stock is down 80% already this year.&nbsp;Snap is also reworking its business plans and veriticals. The firm has made the decision to discontinue investments in Snap Originals, Minis, Games, and Pixy, among other areas.

Another brutal layoff; 20% of employees to be let go by this social media firm

Another brutal layoff: 1200 employees face the axe in this global social media firm 

Another brutal layoff: 1200 employees face the axe

Snap is planning to lay off approximately 20 percent of its more than 6,400 employees&nbsp;

1200 employees to be fired in a snap? Snap CEO Evan Spiegel confirmed that the company is laying off 20 per cent of its workforce, roughly 1,280 employees as the company "must face the consequences of lower revenue growth and adapt to the market environment". The job cuts at Snap were coming after the company posted disastrous quarterly results as it suffered nearly $10 billion loss and its shares hit a new 52-week low. The stock is down 80% already this year.&nbsp; Snap is also reworking its business plans and veriticals. The firm has made the decision to discontinue investments in Snap Originals, Minis, Games, and Pixy, among other areas.

Joining the league of Big Tech companies, photo-sharing platform Snapchat is also planning employee layoffs in the organization. 
According to reports, news comes after the company “recently delivered disappointing earning results” and its stock price plunged following its failure to publish forecast earnings for the third quarter.  
"It's currently unclear how many of Snap's more than 6,000 employees will be laid off, as managers across the company are still planning the full scope of the cuts for their teams," The Verge said in the report. 
Snap joins companies like Microsoft, Twitter, TikTok, Meta and Google who have either laid off employees or frozen new hirings amid the global economic downturn.
 

Oh Snap! Next round of firing from social media giant Snapchat

It is not just photos or videos that disappear from Snapchat, reports indicate lay offs will lead to employees also suffering the same fate. 

As per the report in The Verge, the job cuts at Snap are coming after the company posted disastrous quarterly results (Q2) amid poor future forecasts.

Snapchat is set to join the firing brigade as the social networking app is reportedly laying off staff after disappointing numbers.&nbsp; The last time Snap did layoffs was in 2018 and currently has over 6000 employees and boasts of 347 million daily users of its popular disappearing photo and video app.&nbsp;
<a href="https://www.editorji.com/story/snapchat-will-no-longer-promote-us-president-donald-trump-s-content-1591265227004">Snapchat will no longer promote US President Donald Trump's content</a>
According to reports, news comes after the company &ldquo;recently delivered disappointing earning results&rdquo; and its stock price plunged following its failure to publish forecast earnings for the third quarter.&nbsp;&nbsp; Post the earnings Snap announced that co-founders Evan Spiegel and Bobby Murphy, the company&rsquo;s CEO and CTO, &nbsp; will be paid $1 per year with no additional equity.&nbsp; But that clearly was not adequate&nbsp; "It's currently unclear how many of Snap's more than 6,000 employees will be laid off, as managers across the company are still planning the full scope of the cuts for their teams," The Verge said in the report.&nbsp;
<a href="https://www.editorji.com/business-news/adani-partners-with-french-giant-totalenergies-to-produce-green-hydrogen-1655194884680">Adani partners with French giant TotalEnergies to produce green hydrogen</a>
Snap joins companies like Microsoft, Twitter, TikTok, Meta and <a href="https://www.editorji.com/partner/dw/is-gen-z-killing-google-young-people-prefer-tiktok-1658829876289">Google </a>who have either laid off employees or frozen new hirings amid the global economic downturn.

Snapchat's new paid tier does not offer much at launch. 

Snapchat Plus launches for $4/month but does not remove ads

Snapchat's new paid tier is not available in India.&nbsp;

The new "Snapchat Plus" membership for the social app costs $3.99 per month. The membership grants Snapchat users access to exclusive new features and the opportunity to try out new features before other users.
The membership does not remove Snapchat advertisements.
Snapchat Plus is the company's first attempt to generate revenue outside of advertising, however, it is not anticipated that it will become a main business pillar. Instead, Snapchat Plus is designed for "those who spend the majority of their time interacting with their closest pals on Snap."
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Snapchat Plus is currently a relatively minor addition to the app. Initial enhancements for subscribers will be primarily cosmetic, such as the option to alter the app's icon on the home screen.
Other Snapchat Plus features include the ability to know who has viewed your story multiple times and the ability to pin a buddy to the top of your list as a "BFF."
The feature is currently rolling out only in the United States, Canada, United Kingdom, France, Germany, Australia, New Zealand, Saudi Arabia, and the United Arab Emirates.

Twitter, Meta and now social media platform Snapchat is the latest in the tech bunch to warn of worsening outlook and advising 'tightening of expenses' as they reworked their guidance. CEO Evan Spiegel warned in a note to employees that the company will miss its own targets for revenue and plans to pull back on hiring for the rest of the yearl Snap plans to hire 500 more people this year versus the 2,000 new people it hired over the past 12 months. In addition, Spiegel said managers have been asked to “review spending to find additional cost savings.”Snap's CEO blamed the changing macro outlook which has hit many tech companies he stated "Like many companies, we continue to face rising inflation and interest rates, supply chain shortages and labor disruptions, platform policy changes, the impact of the war in Ukraine, and more."Earlier this month Twitter CEO Parag Agrawal also expressed similar concerns to employees as he asked hiring to be slowed and expenses to be given a hard look. 

Snapchat warns the picture is not looking good! slashes hiring and outlook

The social media company will also slow hiring through the end of the year

Twitter, Meta and now social media platform Snapchat&nbsp;is the latest in the tech bunch to warn of worsening outlook and advising 'tightening of expenses' as they reworked their guidance.&nbsp; CEO Evan Spiegel warned in a note to employees that the company will miss its own targets for revenue and&nbsp;plans to pull back on hiring for the rest of the yearl Snap plans to hire 500 more people this year versus the 2,000 new people it hired over the past 12 months. In addition, Spiegel said managers have been asked to &ldquo;review spending to find additional cost savings.&rdquo;
Also read/watch| <a title="Zomato revenues grow 75%, losses widen 1.6x" href="https://www.editorji.com/business-news/zomato-revenues-grow-75-losses-widen-1-6x-1653365756784">Zomato revenues grow 75%, losses widen 1.6x</a> Snap's&nbsp;CEO&nbsp;blamed the changing macro outlook which has hit many tech companies he stated "Like many companies, we continue to face rising inflation and interest rates, supply chain shortages and labor disruptions, platform policy changes, the impact of the war in Ukraine, and more." Earlier this month Twitter CEO&nbsp;Parag&nbsp;Agrawal&nbsp;also expressed similar concerns to employees as he asked hiring to be slowed and expenses to be given a hard look.&nbsp;

A study found that nearly 70% of people were anxious about returning to offline activities due to embarrassment about their appearance. 

Filter, filter on the (video) call: how Zoom dysmorphia is magnifying insecurities

Staring at their face in video calls all day has made people anxious about their appearance. Here's how the funhouse mirror effect of webcams, also called Zoom dysmorphia, is taking over our life!

Filter, filter on the (video) call: who's the most deluded of them all

A study found that nearly 70% of people were anxious about returning to offline activities due to embarrassment about their appearance.&nbsp;

What started with somewhat harmless rainbow-puking unicorns and dog ears on <a href="https://www.editorji.com/tech-news/snapchat-launches-tiktok-competitor-spotlight-in-india-1615900279388">Snapchat</a>&nbsp;has now become something&nbsp;that rules&nbsp;our&nbsp;digital and&nbsp;even, physical&nbsp;lives.&nbsp;Yes, we&rsquo;re talking about selfie filters!
All fun and games!&nbsp;
Most of the younger generation has grown up around these filters. It sounds dangerous but&nbsp;filters&nbsp;initially&nbsp;were&nbsp;just&nbsp;fun&nbsp;and&nbsp;gimmicky, kind of like a virtual dress-up game.&nbsp;That was because back then, there still was a much clearer distinction between the virtual and the physical world.
SEE MORE&nbsp;<a href="https://www.editorji.com/lifestyle-news/indians-prolific-users-of-selfie-filters-google-study-finds-1605866937620">Indians prolific users of selfie filters, Google study finds</a>&nbsp;
<h3>Polish before publish&nbsp;&nbsp;</h3>
But as&nbsp;social media platforms became more and more popular, editing your pictures&nbsp;quickly became the largely accepted reality. Pictures were&nbsp;'polished&rsquo;&nbsp;on editing apps&nbsp;before posting and even our phones started coming with skin-enhancing features.
The pressure to look 'perfect' online was so strong that young&nbsp;people&nbsp;are undergoing plastic surgery to look like&nbsp;their&nbsp;<a href="https://www.editorji.com/world-news/facebook-puts-instagram-for-kids-on-hold-after-pushback-1632758031820">Instagram</a> or&nbsp;Snapchat-filtered self.
SEE MORE&nbsp;<a href="https://www.editorji.com/instagram-imposes-restrictions-on-diet-and-cosmetic-surgery-content-1568958466530">Instagram imposes restrictions on diet and cosmetic surgery content</a>
Sick of the delusional world of Instagram&nbsp;after&nbsp;just three years of its launch,&nbsp;the hashtag &lsquo;#nofilter&rsquo;&nbsp;quickly rose to fame by 2013&nbsp;and continues to be used by people even today. Although, we all know that there are plenty of no filter fakers out there.
In your face all day&nbsp;
The final nail in&nbsp;the&nbsp;filter coffin has obviously been the pandemic. From young children to the elderly,&nbsp;the infectious outbreak mandated screentime for all.&nbsp;When you talk to&nbsp;people in real life,&nbsp;you&rsquo;re not focussing on your own face&nbsp;but with video calls, you were forced to look at your face for hours every day.
A 2021 study in the&nbsp;International Journal of Women&rsquo;s Dermatology found that nearly 70% of people were anxious about returning to offline activities due to embarrassment about their appearance. The infamous &lsquo;Snapchat Dysmorphia&rsquo; that got popular in 2015 has now grown into the &lsquo;Zoom Dysmorphia.&rsquo;&nbsp;
The distortions of webcams&nbsp;
In 2020, people spent about 3 trillion hours online.&nbsp;Video conferencing platforms have added another layer to our insecurities. From the lighting, posture and camera angle&nbsp;to the quality of your webcam, front cameras can disguise your actual appearance. So, you go from looking at&nbsp;perfect&nbsp;selfies&nbsp;on social media to&nbsp;the&nbsp;highly unforgiving distorted&nbsp;visuals of a&nbsp;Zoom call.
SEE MORE&nbsp;<a href="https://www.editorji.com/lifestyle-news/suffering-from-zoom-fatigue-try-this-fix-1630813723458">Suffering from Zoom fatigue? Try this fix</a>
The unflattering projections have&nbsp;given self-image issues to people who might have avoided them for years even while participating in the social media circus.&nbsp;
Virtual insecurities incarnated
A&nbsp;2020 American&nbsp;study&nbsp;in the journal Facial Plastic Surgery &amp; Aesthetic Medicine&nbsp;said that 72% of cosmetic surgeons&nbsp;witnessed a rise in patients wanting cosmetic procedures to improve their selfies.
Researchers say that&nbsp;it&nbsp;is&nbsp;important for people&nbsp;to&nbsp;see&nbsp;the limitations of webcams and understand that they are, at best, a flawed representation of reality.
But these anxieties won&rsquo;t just go away when we meet&nbsp;face-to-face and it&rsquo;s&nbsp;important for everyone to be mindful of them. So, when you meet your co-worker or friend after a long time, maybe don&rsquo;t comment on their change in&nbsp;appearance?&nbsp;We&rsquo;ve all already been through enough.&nbsp;

Snapchat's parent company Snap Inc. has launched the fourth generation of its Spectacles.

Snap Inc. launches 4th gen Spectacles, blending full augmented reality with the real world

Snapchat's parent company Snap Inc. has launched the fourth generation of its Spectacles. The new model gets full augmented reality features, combining filters, effects and games from Snapchat with the real world. The 4th-gen spectacles feature dual 3D waveguide displays, two cameras, four microphones, two stereo speakers and a touchpad. However, Snap says it won't be selling this generation of Spectacles, and will only be offering it to AR artists and developers to help improve the product range.

Snapchat has launched its TikTok-competitor Spotlight feature in India.

Snapchat launches TikTok-competitor Spotlight in India

Snapchat launches TikTok-competitor Spotlight in India
Snapchat has launched its TikTok competitor Spotlight feature in India. Spotlight allows users to upload short videos of up to 60 seconds, which are viewable in scrollable feed, much like TikTok. Although there is currently no comment section for the videos, users can 'like' videos to add them to a favourites list. The videos can also be shared to other platforms. Indian Spotlight creators can also earn money for creating popular videos, an initiative for which Snapchat invests $1 million per day. Spotlight was launched in 11 countries including the US and Australia last November, and Snap CEO Evan Spiegel said that it has already garnered over 100 million users worldwide, who upload around 1,75,000 videos per day.
Snapchat launches TikTok-competitor Spotlight in India Spotlight allows users to upload 60-second videos Users can scroll through videos, add them to favourites Spotlight videos can be shared to other platforms Indian creators eligible for Spotlight's $1 million per day fund Spotlight launched in 11 countries last November

Snapchat has launched its TikTok-competitor Spotlight feature in India. Spotlight allows users to upload short videos of up to 60 seconds, which are viewable in scrollable feed, much like TikTok. Although there is currently no comment section for the videos, users can 'like' videos to add them to a favourites list. The videos can also be shared to other platforms. Indian Spotlight creators can also earn money for creating popular videos, an initiative for which Snapchat invests $1 million per day. Spotlight was launched in 11 countries including the US and Australia last November, and Snap CEO Evan Spiegel said that it has already garnered over 100 million users worldwide, who upload around 1,75,000 videos per day.

Snapchat has rolled out a new TikTok-like feature called &lsquo;Spotlight&rsquo;.
Users will be able to create and watch up to 60-seconds videos with customised audio and effects in the Snapchat app.
The company says it will pay out $1 million per day through the end of the year to users who share the most popular clips.
The Spotlight is available in 11 countries and will roll out in other markets soon.

Snapchat takes on TikTok with new ‘Spotlight’ feature

Snapchat has rolled out a new TikTok-like feature called &lsquo;Spotlight&rsquo; that will let users share short-form videos.

Snapchat launches TikTok-rival &lsquo;Spotlight&rsquo;
Create and watch 60s videos in Snapchat
To pay $1mn per day throughout 2020
The feature is rolling out in 11 countries

Snapchat has rolled out a new TikTok-like feature called &lsquo;Spotlight&rsquo;.
Users will be able to create and watch up to 60-seconds videos with customised audio and effects in the Snapchat app.
The company says it will pay out $1 million per day through the end of the year to users who share the most popular clips.
The Spotlight is available in 11 countries and will roll out in other markets soon.

Snapchat may soon be introducing five Indian languages on its platform, according to reports. In its efforts to reach a larger user base, the photo-messaging app has launched a beta version to test Hindi, Marathi, Gujarati, Punjabi and Malay. It's not known when the new languages support will officially be launched by Snapchat or whether the beta version is compatible with both Android and iOS operating systems.

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