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☆ I followed Snap Inc. CEO Evan Spiegel's morning routine for a week. I finally understand the appeal of waking up early.
▼ + stars: | 2024-05-08 | by ( Mykenna Maniece | ) www.businessinsider.com time to read: +2 min

On Wednesday, I tried Kriya meditation for the first time. Given how sore I felt from working out the past two days, I decided Wednesday would be the perfect day to try Spiegel's other morning activity: Kriya meditation. Spiegel told Vogue Australia in 2022 that his wife got him "hooked on Kriya meditation." On YouTube, I found a video entitled "Isha Kriya: A Guided Meditation For Health And Wellbeing | 15-Minutes" by the channel Sadhguru. "Daily practice of Isha Kriya will bring health, dynamism, prosperity, and wellbeing.

Persons: Spiegel, Mykenna, Isha Kriya, Isha, that's Organizations: Vogue Australia, YouTube

☆ When grief and AI collide: These people are communicating with the dead
▼ + stars: | 2024-05-06 | by ( Samantha Murphy Kelly | ) edition.cnn.com time to read: +12 min

People have wanted to reconnect with deceased loved ones for centuries, whether they’ve visited mediums and spiritualists or leaned on services that preserve their memory. In September 2023, it introduced ChatGPT voice, where users can ask the chatbot prompts without typing. HereAfter AI, founded in 2019, allows users to create avatars of deceased loved ones. “Remembering is very important; it reflects the human condition and importance of deceased loved ones.”But she noted the relationship we have with our closest loved ones is built on authenticity. Creating an AI version of that person could for many “feel like a violation of that.”Bill Abney said he feels uneasy about communicating with his late fiancée through AI platforms.

Persons: Ana Schultz, Kyle, ”, Schultz, “, Schutz, they’ve, ” Ana Schultz, ElevenLabs, Joe Biden, Biden, ChatGPT, OpenAI, Danielle Jacobson, she’s, Phil, Cole, ” Jacobson, “ Cole, Replika, Rohit Prasad, Val Kilmer, It’s, Mary, Frances O’Connor, ‘, ’ ”, Bill Abney, Kari, ” Abney, “ I’m, Jodi Spiegel, Sims Organizations: CNN, Davidson College, Tech, Alexa, MARS, Amazon, University of Arizona Locations: Rock Falls , Illinois, Alabama, Johannesburg, South Africa, “, San Francisco, Newfoundland, Canada

☆ The largest yachts owned by tech billionaires, from Mark Zuckerberg to Jeff Bezos
▼ + stars: | 2024-05-05 | by ( Madeline Berg | Grace Kay | ) www.businessinsider.com time to read: +2 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. A few years after he and his wife divorced, Jeff Bezos shelled out on a megayacht. Earlier this year, just before his 40th birthday, Mark Zuckerberg became the rumored owner of a yacht originally built for a Russian oligarch. While many tech billionaires have bought yachts, the richest of the rich, like Bezos, Zuckerberg, and Oracle cofounder Larry Ellison, have gone bigger. AdvertisementHere are the largest yachts owned by tech billionaires, listed in order of length.

Persons: —, Joe, Jeff Bezos, Bezos, Lauren Sanchez, Mark Zuckerberg, Superyachts, Giovanna Vitelli, superyachts, Zuckerberg, Larry Ellison, Evan Spiegel Organizations: Service, Business, Oracle Locations: Russian

☆ Julian Assange’s mission was to change the world - but at what cost?
▼ + stars: | 2024-04-27 | by ( Lauren Said-Moorhouse | Claudia Rebaza | ) edition.cnn.com time to read: +14 min

Julian Assange leaves a Melbourne court after facing charges of computer hacking in 1995. WikiLeaks/ReutersUnder a global spotlightAs WikiLeaks continued its disclosures, Assange found himself the latest cause célèbre – his every movement intensely scrutinized. … He liked the fuss that (the disclosures) caused but he was oddly incurious actually about the documents.”Others offer alternative explanations for Assange’s eccentricities. There were mounting calls for Assange to leave WikiLeaks and, when he didn’t, many cut ties with it. Outside the confines of his diplomatic shelter, the world questioned whether Assange was trying to circumvent justice.

Persons: London CNN — Julian Assange, ”, He’s, Chelsea Manning, Joe Biden, Assange’s, Anthony Albanese, Assange, “, ” –, Julian Assange, Ian Kenins, Sarah Palin’s, Atika Shubert, Shubert, ” Shubert, célèbre, Fidel Narvaez, “ Assange, ” Narvaez, James Ball, Joe Raedle, ” Ball, Ball, …, Narvaez, Hans Crescent, Lenin Moreno, Moreno, Abu Hamza al, Masri, Stella Assange, Daniel Leal, Stella, “ I’m, Nick Vamos, It’s, Alice Jill Edwards, Agnès Callamard, El País, Der Spiegel, Jameel Jaffer, Xiaofei Xu, Alex Stambaugh Organizations: London CNN, WikiLeaks, Court, Ecuadorian, Army, Australian, Pentagon, NASA, University of Melbourne, Fairfax Media, of Scientology, Republican, CNN, Chelsea, Apache, Reuters, Guardian, Ellingham, Hans, London’s Metropolitan Police, US Justice Department, of Justice, Britain's, Getty, Peters & Peters, Prosecution Service, Human Rights, UN, Amnesty, The New York Times, Columbia University Locations: United States, Australian, London’s, Australia, Townsville, Queensland, cybercrime, Melbourne, Guantanamo Bay, Cuba, Iraq, London, Afghanistan, ”, Sweden, Ecuador, UK’s, Belmarsh

☆ Snap CEO: Digital ad recovery has been broad-based with a constructive economic backdrop
▼ + stars: | 2024-04-26 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSnap CEO: Digital ad recovery has been broad-based with a constructive economic backdropSnap CEO Evan Spiegel joins 'Money Movers' to discuss how much ad revenue acceleration was due to AI tools, the overall rebound in digital advertising, and what the expense guidance says about the company's plans.

Persons: Evan Spiegel

Snap shares surged 28% on Friday after the company surprised Wall Street by showing a profit and reported sales and user numbers that exceeded analysts' estimates. The company reported adjusted earnings per share of 3 cents, while analysts were expecting a 5-cent loss. Snap said adjusted EBITDA "exceeded our expectations" and was primarily driven by operating expense discipline, as well as accelerating revenue growth. Snap reported more than 9 million Snapchat+ subscribers for the period. For the second quarter, Snap expects to report revenue between $1.23 billion and $1.26 billion, up from the $1.22 billion expected by analysts, according to StreetAccount.

Persons: Derek Andersen, Evan Spiegel Organizations: Barker, Revenue, Snapchat, Meta Locations: Santa Monica , California

☆ Check out the pitch deck that helped adtech identity company ID5 raise $20 million from investors including TransUnion and Martin Sorrell's S4S
▼ + stars: | 2024-04-09 | by ( Lara O'Reilly | ) www.businessinsider.com time to read: +4 min

Adtech company ID5 said Tuesday it had raised $20 million in Series B investment. The ID5 identifier has been deployed by more than 66,000 publishers, per the metadata company Sincera. ID5 has now raised just over $27 million in funding to date, though the company declined to disclose its post-money valuation. New investors in this round included the credit reporting and data agency TransUnion and advertising veteran Martin Sorrell's venture capital firm S4S Ventures. Check out key slides from the pitch deck that helped ID5 raise $20 million in Series B funding.

Persons: ID5, Mathieu Roche, Martin Sorrell's, Sorrell, Matt Spiegel, Spiegel, Matt, Roche Organizations: Business, Data Protection, Publishers, Trade, S4S Ventures, Progress Ventures, Seventure Partners, Capital Partners, Aperiam Ventures

☆ Snap's courting of political advertisers is set to bring it a much-needed 2024 revenue boost
▼ + stars: | 2024-04-04 | by ( Lara O'Reilly | ) www.businessinsider.com time to read: +5 min

Analysts at the World Advertising Research Center forecast Snap's ad revenue will grow by 13.7% to $5.2 billion this year, up from a 0.1% increase in 2023. The biggest year-over-year growth is set to come from political and advocacy advertisers in the US, ahead of the November presidential election, WARC said. Beyond the political ad boost, Snap's expected return to double-digit revenue growth will be driven by the platform leaning on artificial intelligence for ad optimization, an improved content experience, and user growth, according to WARC. To be sure, with US political ad spend forecast to exceed $12 billion in 2024, according to Emarketer, Snap will be a drop in the ocean for most political advertisers. Traditional media still takes the lion's share of political ad dollars.

Persons: WARC, Snap's, Biden, Alexandria Ocasio, Alex Brownsell, Brownsell, That's, Liz Bennett, Bennett, Danielle Butterfield, Butterfield, TikTok doesn't, It's, Seat's Bennett, Jason Poinsette, Evan Spiegel Organizations: Advertising Research, Business, Republican National Committee, Google, ESPN, Meta, USA Locations: Alexandria, Texas, Los Angeles

☆ A shadowy Russian assassination unit may be behind mysterious 'Havana syndrome' cases: investigation
▼ + stars: | 2024-04-01 | by ( Mia Jankowicz | ) www.businessinsider.com time to read: +5 min

A new investigation has linked a shadowy Russian unit to instances of 'Havana Syndrome.' Carrie's account of "Havana Syndrome" was reported in an investigation jointly published by 60 Minutes, German outlet Der Spiegel, and investigative outlet The Insider. The outlets link Unit 29155, a shadowy Russian assassination unit, to multiple incidences of the syndrome, which is formally known to the US government by the term "anomalous health incidents," or AHIs. The Insider traced the movements of several Unit 29155 operatives around the time of several instances of alleged Havana Syndrome. AdvertisementHowever, in 2021 unnamed US officials told Politico that the GRU was at least suspected in ongoing investigations into the syndrome.

Persons: Der Spiegel, —, Carrie, she's, Greg Edgreen, Joy, Albert Averyanov, Marc Polymeropoulos, Insider's Aylin Woodward, It's, Walter Reed Organizations: Service, FBI, Der, CIA, Defense Intelligence Agency, The, National Intelligence, US, Politico Locations: Havana, Russian, Florida, Cuba, China, Russia, Tbilisi , Georgia, Moscow

☆ Julian Nagelsmann: Germany manager reveals father was a German spy and that he later took his own life
▼ + stars: | 2024-02-24 | by ( Issy Ronald | Sophie Tanno | ) edition.cnn.com time to read: +3 min

CNN —Julian Naglesmann, Germany’s national soccer team manager, opened up about the death of his father in an interview with Der Spiegel, revealing he was a German spy and later took his own life. Even my grandfather believed his son was a soldier,” Nagelsmann told the German publication. It wasn’t until the former Bayern Munich manager was 15 or 16 that he learned his father worked for the secret service, he said. Julian Nagelsmann won the Bundesliga with Bayern Munich in 2022. He was sacked by Bayern Munich in March 2023 during his second season in charge after the club slipped from the top of the Bundesliga table.

Persons: Julian Naglesmann, Der Spiegel, ” Nagelsmann, “, wasn’t, ”, Julian Nagelsmann, Leonhard Foeger, Reuters Naglesmann Organizations: CNN, soccer, Bayern Munich, Bundesliga, Reuters, TSG Hoffenheim, Prevention, Befrienders Locations: German, Munich

☆ Middle East Crisis Israeli Official Expresses Some Optimism Over Cease-Fire Deal
▼ + stars: | 2024-02-22 | by ( Adam Sella | ) www.nytimes.com time to read: +5 min

Image Displaced Palestinians in Rafah, in southern Gaza, as smoke rises over the nearby city of Khan Younis last month. That figure could climb to 66,720 if there were outbreaks of infectious disease such as cholera, their analysis found. Their study considers deaths from traumatic injuries, infectious diseases, maternal and neonatal causes, and noncommunicable diseases for which people can no longer receive medication or treatment, such as dialysis. Dr. Checchi said the analysis made it possible to quantify the potential impact of a cease-fire in lives. The projected 6,500 deaths even with a cease-fire is predicated on the assumption there will not be epidemics of infectious disease.

Persons: Khan Younis, Bassam Masoud, ”, Francesco Checchi, “, ” Dr, Checchi, Paul Spiegel, Spiegel, ” Patrick Ball, haven’t, Ball, Dr Organizations: Johns Hopkins University, London School of Hygiene, Hopkins Center, Humanitarian Health, Human Locations: Rafah, Gaza

☆ Opinion: Trump’s making America irrelevant to Europe
▼ + stars: | 2024-02-21 | by ( David A. Andelman | ) edition.cnn.com time to read: +8 min

He formerly was a foreign correspondent and bureau chief for The New York Times in Europe and Asia and for CBS News in Paris. CNN —Madeline Albright famously called America the “indispensable nation.” Is former President Donald Trump making America the irrelevant nation? The first steps toward a new direction for such a Europe — without America — are already being taken. Dursun Aydemir/Anadolu/Getty ImagesVon der Leyen has also said that upping European defense production would be a top priority for her second term — not to mention sorting through vastly divergent budgets of the various countries. Still, as a bloc, Europe at about 85 billion euros ($92 billion) has already passed the United States at 66.2 billion euros ($71.6 billion) in total commitments to Ukraine.

Persons: David A, Madeline Albright, Donald Trump, Alexey Navalny’s, Vladimir Putin, Mike Johnson, Johnson, Joe Biden, ” haven’t, Mette Frederiksen, ” Frederiksen, Ursula von der Leyen, Europe’s, Christine Wormuth, Peter, Paul, Kaja Kallas, Dursun, Leyen, Emmanuel Macron’s, Macron, David Lammy, unflinchingly, who’s, ” Kallas, Alar Karis, ” Karis, we’re, Der Spiegel, ” Organizations: CNN, French Legion of, The New York Times, CBS News, Trump, Republicans, NATO, Security, Danish, America, Africa Command, Getty, Germany’s Kiel Institute, US, Union, Munich Security Conference, British, Labour Party, Estonian, Politico Europe, Kremlin, “ Locations: Europe, Asia, Paris, America, Russia, Russian, Ukraine, “, United States, Munich, Berlin, Brussels, Poland, Estonian, Anadolu, Belgium, Germany, Italy, Netherlands, Turkey, France, Russia’s, Sweden, Britain, German

☆ TikTok, Facebook and YouTube sued by New York City for alleged harm to kids' mental health
▼ + stars: | 2024-02-14 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +4 min

The suit alleges that Meta , Snap , ByteDance and Google (whose parent company is Alphabet ) knowingly "designed, developed, produced, operated, promoted, distributed, and marketed their platforms to attract, capture, and addict youth, with minimal parental oversight." They claim that New York's school districts and various health and social services have been severely impacted by children who have suffered negative mental health consequences stemming from their use of popular social media apps. "In collaboration with youth, mental health and parenting experts, we've built services and policies to give young people age-appropriate experiences, and parents robust controls." New York's lawsuit echoes similar allegations made against Meta, Snap, TikTok and Alphabet in litigation filed in 2022 in the Northern District of California. Meanwhile, a coalition of over 40 attorneys general filed a joint federal lawsuit against Meta alleging that its products are addictive and harm mental health.

Persons: Eric Adams, Adams, we've, Meta, it's, Snapchat, Mark Zuckerberg, Shou Zi Chew, Evan Spiegel Organizations: York City, Facebook, YouTube, Google, Meta, Northern District of, Social Locations: York, TikTok, U.S, New York, Los Angeles, California, Northern District, Northern District of California

☆ Si Spiegel, War Hero Who Modernized Christmas Trees, Dies at 99
▼ + stars: | 2024-02-08 | by ( Sam Roberts | ) www.nytimes.com time to read: 1 min

Before he became known as the father of artificial Christmas trees, Si Spiegel was a valiant Army aviator. In the closing days of World War II, he was piloting his B-17 Flying Fortress in an armada of 1,500 Allied bombers that pummeled Berlin. Struck by antiaircraft flak, two of the plane’s four engines lost power as Mr. Spiegel reversed course to return to England. Rather than bail out over Germany and risk being captured as a prisoner of war — especially given that he was Jewish — Mr. Spiegel managed to crash-land in Soviet-occupied Poland. After being stuck there for weeks, he improvised a daring escape, using parts of his own plane to jury-rig another B-17 that had crashed nearby, then flying to an American base in Italy.

Persons: Si Spiegel, Spiegel Locations: Berlin, England, Germany, Soviet, Poland, Italy

☆ Pinterest shares bounce back after CEO announces app deal with Google
▼ + stars: | 2024-02-08 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +2 min

Pinterest shares plummeted in extended trading on Thursday after the company issued a weaker-than-expected forecast and missed on revenue. Revenue : $981 million vs. $991 million expected, according to LSEG, formerly known as Refinitiv. : $981 million vs. $991 million expected, according to LSEG, formerly known as Refinitiv. Earnings: 53 cents per share, adjusted, vs. 51 cents per share expected, according to LSEG. Prior to Thursday's report, Pinterest shares were up 9.5% this year after surging 53% in 2023.

Persons: Pinterest, Bill Ready, Evan Spiegel Organizations: Revenue, Google Locations: Toronto , Ontario, Canada, LSEG, Ukraine

☆ Snap CEO on revenue miss and light guidance
▼ + stars: | 2024-02-07 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSnap CEO on revenue miss and light guidanceEvan Spiegel, Snap CEO, joins 'Money Movers' to discuss the chief executive message to investors, the outlook for Snap's bottom line, and more.

Persons: Evan Spiegel

☆ Premarket stocks: US companies are still worried about an economic shock
▼ + stars: | 2024-02-07 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +6 min

A version of this story first appeared in CNN Business’ Before the Bell newsletter. But America’s publicly traded companies are flashing a key sign of economic uncertainty — they’ve been hoarding cash. And companies with existing and expensive debt in a high-interest rate environment would likely want to use their cash to pay it down. “We interpret this correlation as evidence that cash reserves act like insurance against sudden economic shocks,” wrote the researchers. The missing bolts are apparently not the only problem.

Persons: America’s, ” Vijay Govindarajan, ”, Dartmouth’s Govindarajan, Anup Srivastava, Chandrani Chatterjee, Max, Jennifer Homendy, Homendy, Evan Spiegel, Tuesday’s, Read Organizations: CNN Business, Bell, New York CNN, CNN, Moody’s Investors, Dartmouth’s Tuck School of Business, University of Calgary’s Haskayne School of Business, University of Texas, JPMorgan, NTSB, Boeing, National Transportation Safety, Max, Alaska Airlines, United Airlines, Wall Street, Meta Locations: New York, Ukraine, Arlington, Alaska, Oregon, ”

☆ Snap shares drop 30% after company's revenue miss and weak guidance
▼ + stars: | 2024-02-07 | by ( Alex Koller | ) www.cnbc.com time to read: +3 min

Evan Spiegel, CEO of Snap Inc., speaks onstage during the Snap Partner Summit 2023 at Barker Hangar on April 19, 2023 in Santa Monica, California. Snap shares tanked 30% in Wednesday morning trading, a day after the company missed revenue estimates and issued light guidance in its fiscal fourth-quarter earnings report. Snap reported revenue of $1.36 billion for the quarter, slightly below the $1.38 billion expected by analysts, according to LSEG, formerly known as Refinitiv. They noted that strong ad improvements and impression growth at Meta and Amazon could represent another headwind for Snap's ad revenue. "Stepping back, 4Q was a mixed bag, but the acceleration in 1Q gives us confidence that things are getting back on track," the analysts wrote.

Persons: Evan Spiegel, Morgan Stanley, — CNBC's Michael Bloom, Jonathan Vanian Organizations: Snap Inc, Barker, Meta, Barclays, 4Q, SNAP, JPMorgan, CNBC PRO Locations: Santa Monica , California

☆ Watch CNBC's full interview with Snap CEO Evan Spiegel
▼ + stars: | 2024-02-07 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Snap CEO Evan SpiegelEvan Spiegel, Snap CEO, joins 'Money Movers' to discuss the chief executive message to investors, the outlook for Snap's bottom line, and how Spiegel will address the difference in size between Snap and Meta.

Persons: Evan Spiegel Evan Spiegel, Spiegel

☆ Snap Shares Plummet After Fourth-Quarter Results
▼ + stars: | 2024-02-06 | by ( Yiwen Lu | More About Yiwen Lu | ) www.nytimes.com time to read: +1 min

Revenue for the three months ended Dec. 31 was $1.36 billion, up from $1.3 billion a year ago but below Wall Street projections of $1.38 billion for Snapchat’s parent company. Net losses for the fourth quarter narrowed to $248 million, from $288 million a year earlier. “2023 was a pivotal year for Snap, as we focused relentlessly on adding value to our community while evolving our business for long-term growth,” Evan Spiegel, the company’s chief executive, said in a letter to investors. On Monday, Snap laid off more than 500 workers, or about 10 percent of its global work force, part of a bigger wave of targeted cuts by tech companies this year. “While this decision was painful, and we will miss our friends and colleagues, we believe these changes are necessary to achieve our long-term goals” and manage expenses, Mr. Spiegel said in the letter.

Persons: ” Evan Spiegel, Spiegel Organizations: Revenue

☆ Meta is trouncing Snap in Digital ads — here's why
▼ + stars: | 2024-02-06 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +2 min

In this screengrab, CEO of Snap Inc. Evan Spiegel takes the stage at the virtual Snap Partner Summit 2021 on May 20, 2021 in Los Angeles. The online ad market is bouncing back. Snap reported an increase of just 5% year-over-year, its sixth straight quarter of single-digit growth or a decline in sales. For the first quarter, Snap projected revenue of $1.095 billion to $1.135 billion, which would equal growth of between about 11% and 15%. Broadly, the digital ad market is recovering from a brutal 2022, when soaring inflation and rising interest rates led brands to reel in spending.

Persons: Evan Spiegel, Meta, Jasmine Enberg Organizations: Snap Inc, Facebook, Google, Microsoft, Insider Intelligence Locations: Los Angeles, Paris

☆ Snap plunges 30% on revenue miss and light guidance, as Middle East conflict creates 'headwind'
▼ + stars: | 2024-02-06 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +5 min

Revenue : $1.36 billion vs. $1.38 billion expected, according to LSEG. : $1.36 billion vs. $1.38 billion expected, according to LSEG. Global Daily Active Users : 414 million vs. 412 million expected, according to StreetAccount. : 414 million vs. 412 million expected, according to StreetAccount. Daily active users for the first quarter will be 420 million, Snap said, slightly topping analyst estimates of 419.3 million.

Persons: Evan Spiegel, Porte, Debra Aho Williamson, Mark Zuckerberg, Linda Yaccarino, Shou Zi Chew, Jason Citron, Pinterest Organizations: Inc, Viva Technology, Porte de, CNBC, Meta Locations: Paris, Israel

☆ Snap shares plunge 30% in the wake of quarterly loss, layoffs
▼ + stars: | 2024-02-06 | by ( Clare Duffy | ) edition.cnn.com time to read: +2 min

New York CNN —Shares of Snapchat parent Snap plunged on Tuesday after the company reported a loss in the final three months of 2023. Snap reported a net loss of $248 million for the December quarter, an improvement from the same period in the prior year and a narrower loss than Wall Street analysts had expected. Still, shares fell as much as 30% in after-hours trading Tuesday. Snap said Monday that the layoffs were meant to “best position our business to execute on our highest priorities” and to “promote in-person” work. Daily active users grew 10% year-over-year in the December quarter to 414 million, with gains largely coming from outside the US and Europe.

Persons: Evan Spiegel, Apple’s Organizations: New, New York CNN, Wall Street, Facebook, Amazon Locations: New York, Europe

☆ Snap to lay off 10% of global workforce, around 500 employees
▼ + stars: | 2024-02-05 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: 1 min

Co-founder and CEO of Snap Inc. Evan Spiegel attends the Senate Judiciary Committee hearing on online child sexual exploitation at the U.S. Capitol, in Washington, U.S., January 31, 2024. Social media company Snap said Monday that it will lay off 10% of its global workforce, or around 500 employees, in part to "promote in-person collaboration." The company has executed multiple rounds of layoffs since 2022, most recently in November, when it trimmed a small number of product employees. Snap expects it will incur charges ranging from $55 million to $75 million, according to a regulatory filing. The company's last major round of cuts was in August 2022, when it laid off 20% of staff and restructured its business lines.

Persons: Evan Spiegel Organizations: Snap Inc, U.S . Capitol, Social Locations: Washington , U.S

☆ Snap's new mass layoffs hit teams across tech, trust and safety, and an internal analytics team aiding DEI efforts
▼ + stars: | 2024-02-05 | by ( Kali Hays | ) www.businessinsider.com time to read: +3 min

Snap's new mass layoff impacted workers in a range of roles across the company. Another perceived Snap in recent months as a company in "managed decline." C-suite executives who were hired or promoted, like Jerry Hunter and Jeremi Gorman, respectively, to build up and manage Snap's business, are gone and are not being replaced, as CEO Evan Spiegel is taking on oversight of the business. Engineering leaders, too, left the company in recent months. Snap has hired some new executives, like Patrick Harris, Ronan Harris, Darshan Kantak and Eric Young, but none are in the c-suite.

Persons: Evan Spiegel, Snap's, Spiegel, Jerry Hunter, Jeremi Gorman, Patrick Harris, Ronan Harris, Darshan Kantak, Eric Young Organizations: Business, Workers, Monday, BI, Meta, Apple, Engineering Locations: North America, California

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