HomeInvestingEarningsSnap (SNAP) Up On Restructuring News, To Lay Off 20% Of Workforce
Snap (SNAP) Up On Restructuring News, To Lay Off 20% Of Workforce

Snap (SNAP) is the subject of today’s FOMO segment. In this segment Jenny Horne and Caroline Woods discuss Snap Inc’s (SNAP) announcement that it is cutting 1200 jobs or 20% of its workforce. SNAP gained on the restructuring news. According to CEO Evan Spiegel revenues for the current quarter are tracking at an 8% year-over-year gain, well below expectations. Snap stock (SNAP) jumped premarket after the announcement and was trading up ~9.5% around $11/share Wednesday midday.

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