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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."
Also watch: <a title="Hermit malware used to spy on iPhones and Android phones" href="https://www.editorji.com/tech-news/hermit-malware-used-to-spy-on-iphones-and-android-phones-1656066100707">Hermit malware used to spy on iPhones and Android phones</a>
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.

snapchat plus

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