Snap is cutting 16 percent of its staff, including 16% of its full time employees, in order to shift towards profitable growth. The company plans to reduce its annualized cost base by over $500 million by the second half of 2026 and establish a clearer path to net-income profitability. The changes will impact approximately 1,000 team members and close over 300 open roles. The decision was made to prioritise investments that they believe are most likely to create long-term value. For U.S.-based team members who are leaving, they will receive severance, healthcare coverage, and equity vesting, along with career transition support.