Snap will lay off 20 percent of its employees, while Netflix takes its chief commercial officer

A wave of layoffs has been seen in recent months in the technological field. Fears about a global recession, the still visible impacts of the pandemic and an inflationary environment have led hundreds of companies around the world to reduce their workforces. Snap is the latest to join the trend.

According to a report signed by The Verge, which cites “familiar people”, the company is considering laying off 20 percent of its workforce, made up of more than 6,400 employees.

Snap ditches its selfie drone, the taste only lasted four months

According to what was said, Snap has been planning these layoffs for a few weeks and the cut is expected to start taking effect this Wednesday.

The layoffs will affect some areas more than others. It is said, for example, that the team in charge of generating ways for developers to create mini-applications and games within Snapchat, will be one of those that register the most losses, in the same way that it will happen with Zenly, the social mapping app bought by Snap during 2017.

Additionally, cutbacks are expected in the hardware arena, within teams like those responsible for the Spectacles (AR goggles) and the recently canceled Pixy drone.

The wave of layoffs isn’t a surprise considering that since the beginning of this year, Snap’s stock has lost nearly 80 percent of its value.

Netflix Steals This Snap Director

What is surprising is that Snap has just lost its chief commercial officer and chief advertising executive, Jeremy Gorman, to Netflix.

In addition to this “theft”, it is known that Peter Naylor, Snap’s vice president of advertising sales for the Americas, will also join the ranks of the streaming service.

Gorman told Snap colleagues Tuesday that he would be leaving to join Netflix along with Peter Naylor, Snap’s vice president of ad sales for the Americas, according to two people familiar with the matter. Russ Caditz-Peck, a Snap spokesman, confirmed. outputs.

Kumiko Hidaka, a Netflix spokeswoman, confirmed that Gorman will take over the company’s worldwide advertising chairmanship, reporting to COO Greg Peters. Naylor will lead Netflix’s advertising sales organization and report to Gorman.

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