Snap's stock jumps 11% on plans to axe 16% of its workforce citing AI efficiencies - CNBC

By Sawdah Bhaimiya | Published: Apr 15, 2026

Snap's shares jumped on Wednesday after the company announced plans to slash up to 16% of its global workforce, citing AI-driven efficiencies. CEO Evan Spiegel said in a letter to staff that the re… [+2613 chars]