Snap's staff cuts allegedly hit senior leaders - Breaking The News

Snap's staff cuts allegedly hit senior leaders

5 February

1 min read

EPA/JUSTIN LANE

Snap Inc. targeted a few of its senior staff members in its most recent layoffs, The Information reported on Monday citing sources with knowledge on the matter.

According to the sources, Snap CEO Evan Spiegel told its workers that senior executives were cut in an effort to lower the amount of stock-based compensation these members were getting. The sources added that among the individuals affected are Director of Content Sam Corrao Clanon, Vice President of Content Engineering Ding Zhou, and Vice President of Platform Partnerships Konstantinos Papamiltiadis.

Earlier, the company revealed it would be reducing its headcount by 10%.

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