Snap Inc., the parent company of Snapchat, announced Wednesday that it's cutting up to 16% of its workforce and plans to use AI tools instead.

Nearly 60% of teens say they message people daily on Snapchat. The app has a huge lead over its next two biggest rivals.

Snapchat parent company Snap will be laying off 16% of its global workforce, or about 1,000 employees, CEO Evan Spiegel said in a staff memo.

About this research This study is Pew Research Center’s latest effort to explore the landscape of teens and technology today. It focuses on social media and how the views

Snap, parent company of Snapchat, is making a massive workforce reduction -- eliminating 1,000 jobs, representing 16% of its current employees, in a move to accelerate net profitability. In addition,

Snapchat parent Snap is laying off about 1,000 employees and closing 300 open roles as activist investor Irenic Capital pushes for cost savings.

About this research This study is Pew Research Center’s latest effort to explore the landscape of teens and technology today. It focuses on social media and how the views

The billionaire, who also co-founded the app, was seen partying hard with his supermodel wife Miranda Kerr — while his company, headquartered in Santa Monica, plotted to lay off 1,000 workers. The pair posted loved-up shots of them kissing and enjoying the tunes at Coachella on Friday just days before the jobs bloodbath.

Disgraced Democratic Congressman Eric Swalwell was once called the "Snapchat king of Congress" years before his use of the platform was swept up in sexual misconduct allegations.