U.S. markets close in 3 hours
  • S&P 500

    3,701.77
    +54.48 (+1.49%)
     
  • Dow 30

    29,585.83
    +450.84 (+1.55%)
     
  • Nasdaq

    10,966.91
    +137.40 (+1.27%)
     
  • Russell 2000

    1,706.68
    +44.17 (+2.66%)
     
  • Crude Oil

    81.38
    +2.88 (+3.67%)
     
  • Gold

    1,666.10
    +29.90 (+1.83%)
     
  • Silver

    18.82
    +0.48 (+2.61%)
     
  • EUR/USD

    0.9705
    +0.0107 (+1.12%)
     
  • 10-Yr Bond

    3.7850
    -0.1790 (-4.52%)
     
  • GBP/USD

    1.0861
    +0.0130 (+1.22%)
     
  • USD/JPY

    144.2270
    -0.5640 (-0.39%)
     
  • BTC-USD

    19,514.90
    +362.55 (+1.89%)
     
  • CMC Crypto 200

    444.87
    +16.09 (+3.75%)
     
  • FTSE 100

    7,005.39
    +20.80 (+0.30%)
     
  • Nikkei 225

    26,173.98
    -397.89 (-1.50%)
     

Snap plans to lay off 20% of its workforce

A new report indicates that Snap plans to lay off 20% of its 6,400+ employees.

Video Transcript

[AUDIO LOGO]

- There's some breaking news. Snap is reportedly planning to lay off approximately 20% of its more than 6,400 employees. According to The Verge, the layoffs are set to begin tomorrow and hit some units, including the hardware unit, harder than others. Now Snap is currently under pressure-- there you can see it, off just over 2.5% today.