Snap to lay off about 16% of staff - Reuters
Snap said on Wednesday it would lay off around 16% of its workforce, weeks after activist investor Irenic Capital Management pushed the ...
www.reuters.comSnap Inc. (SNAP), the parent company of Snapchat, has seen significant volatility in its stock price recently, trading around $5.60 to $8.05 based on the latest available quotes as of mid-April 2026.[1][5][9]
Major Layoff Announcement
Snap announced plans to lay off about 16% of its global workforce on April 15, 2026, aiming to streamline operations amid pressure from activist investor Irenic Capital Management. This news led to mixed market reactions, with shares jumping in premarket trading before broader declines.[2][6][7]
Recent Price Trends
The stock hit a 52-week low near $4.46 recently and has fluctuated between $5.17 and $5.76 in recent sessions, with a market cap around $9.48B to $13.8B. Over the past year, SNAP ranged from $3.81 to $13.28, reflecting ongoing challenges in advertising and competition.[5][9][1][2]
Other Developments
Snap introduced Snapchat+ features like customizable Bitmoji Pets, enforced Australia's under-16 ban, and expanded with a Qatar office. Partnerships, such as with Qualcomm for AI smart glasses, provided some uplift, though health advertising pushes sparked investor caution.[3][5]