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Snapchat’s parent company shutters Web3 division amid layoffsSnap Inc (NYSE:)’s CEO Evan Speigel announced in a note on Friday that the company had made the difficult decision to reduce the size of its workforce by approximately 20%.
The note said that this round of layoffs comes after the company experienced slow revenue growth, a slump in stock prices, and a general lag behind its financial targets. Speigel shared:
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