6/12/2023 0 Comments Snapchat ceo![]() The company also cut ties with two senior advertising executives. Snap publicly confirmed the layoffs and released Spiegel’s memo to employees explaining the need for a restructuring. The Post has reached out to Snap for comment. In the same meeting, Snap reportedly revealed that remaining workers would be getting a boost to their stock-based compensation later this year, with the exact terms to be disclosed in the fall. One person who attended the all-hands meeting said Spiegel also “diverted blame” for Snap’s extensive hiring drive in the months ahead of the layoffs, asserting he had approved fewer new positions than managers had requested. The meeting purportedly “provided little comfort” to Snap’s workforce. Spiegel read prepared remarks about the job cuts before answering a few pre-selected questions from workers. “Looks like that went out of the window right away when things started going bad.” Snap CEO Evan Spiegel’s rallying cry fell flat with company staffers. “Kind creative and smart is the motto at Snapchat,” one laid-off worker after the cuts, according to the outlet. Speigel’s comments reportedly upset workers even further during a time in which companywide morale was already “extremely down.” The Snap CEO asserted that the round of pink slips, while a setback, was a chance for the company to “prove the haters wrong” moving forward, sources familiar with his remarks told Insider. Spiegel’s remarks came during an all-hands meeting with Snap employees after the social media app slashed about 20% of its workforce, or more than 1,200 workers, as it contends with an extended stock slump as well as sagging revenue and user growth. Snap boss Evan Spiegel reportedly angered his remaining employees Thursday by framing the company’s recent sweeping layoffs as a chance for them to stick it to the firm’s “haters.” ‘Audio porn’ app created by Snapchat CEO’s sister has 300K subscribers It took 2 years for Evan Spiegel and Miranda Kerr to buy $120M LA home ![]() Snap stock rises after CEO confirms job cuts, vows to slash costs The fall of MIA techie who made $158M by making your pics vanish in a ‘Snap’
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