Snap is cutting jobs in recruiting and slowing new hires

Snap is cutting jobs in recruiting and slowing new hires

Snap is cutting jobs in its recruiting division as the company’s stock price languishes below its IPO price from earlier this year.

Snapchat’s parent confirmed to CNBC that it recently laid off 18 people in recruiting, a development that was first reported by Business Insider. The cuts follow about a dozen layoffs in Snap’s hardware marketing division last month. The company also plans to slow hiring next year.

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