Snapchat is a multimedia instant messaging platform developed by Snap Inc. The primary feature of the social media platform is that messages and posts are only available for 24 hours or less. It was founded in 2011, with its headquarters in California.
According to reports, Snap has announced plans to lay off 10% of its workforce, which amounts to approximately 500 employees, in a restructuring initiative aimed at cutting costs and reducing operational hierarchy. The layoffs reportedly affects senior executives in the company, among others.
