On February 5, 2024, Snap Inc. filed a Form 8-K with the U.S. Securities and Exchange Commission announcing a significant workforce reduction plan. The company disclosed its intention to cut approximately 10% of its global full-time employees to streamline operations and focus on key priorities for growth. Snap Inc. anticipates incurring pre-tax charges ranging from $55 million to $75 million, mainly related to severance and associated costs. The majority of these costs are expected to be realized in the first quarter of 2024. However, due to varying local laws and consultation requirements, the process of position eliminations may extend into the second quarter of 2024 or later in some countries. The company's forward-looking statements in the report highlight the potential risks and uncertainties that could impact its business and financial performance.

On February 5, 2024, Snap Inc. filed a Form 8-K with the U.S. Securities and Exchange Commission announcing a significant workforce reduction plan. The company disclosed its intention to cut approximately 10% of its global full-time employees to streamline operations and focus on key priorities for growth. Snap Inc. anticipates incurring pre-tax charges ranging from $55 million to $75 million, mainly related to severance and associated costs. The majority of these costs are expected to be realized in the first quarter of 2024. However, due to varying local laws and consultation requirements, the process of position eliminations may extend into the second quarter of 2024 or later in some countries. The company's forward-looking statements in the report highlight the potential risks and uncertainties that could impact its business and financial performance.