Snap Is Laying Off 20 Percent of its Staff, Canceling Shows and

Snap is laying off 20 percent of its employees, two executives are leaving for Netflix, and Snap will discontinue some apps, products, and the production of its shorts with influencers.
Snap's stock price fell 80 percent this year. Now, it is laying off 20 percent of its workforce.

Layoffs: Snap to lay off 10% of its workforce as spate of job cuts continue - The Economic Times

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Snapchat parent Snap is laying off 10 percent of employees - ReadWrite