Snap hit with more layoffs, plans to slow hiring in 2018

Evan SpiegelGetty/Michael KovacSnap CEO Evan Spiegel.

Snapchat parent company Snap Inc. has been hit with more layoffs as management evaluates trimming headcount across different teams.

18 employees were laid off in the company’s recruiting division this week, according to people familiar with the matter. A Snap spokesperson confirmed the cuts to Business Insider.

Snap is also planning to slow its hiring next year. In an email sent to employees last month, parts of which were seen by BI, Spiegel said the company would hire at a “slower rate” in 2018, and that leaders would be asked to make “hard decisions” about employees who aren’t performing well.

Snap laid off roughly one dozen people supporting the hardware division that makes its Spectacles camera glasses last month, BI previously reported. People close to the company said that more cuts could be made as managers institute a new system for evaluating employee performance.

Snap’s headcount has ballooned rapidly in the last two years, from 600 employees at the end of 2015 to 1,859 at the end of 2016. The company reported having 2,600 employees last quarter.

This story is developing. Check back for updates.

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