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2022-08-31

Snap Stock Falls 5% After Report it Plans to Lay Off 20% of Workers

Snap Inc said on Tuesday its two senior advertising executives have exited the company, hours after

Snap Stock Falls 5% After Report it Plans to Lay Off 20% of Workers

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(https://bit.ly/3CDfrIu)</p><p>The social media firm declined to comment on the report.</p><p>Technology companies, crypto exchanges and financial firms have cut jobs and slowed hiring as global economic growth weakens due to higher interest rates, red-hot inflation and an energy crisis in Europe.</p><p>Last month, Snap said some advertisers continue to face supply-chain disruptions and labor shortages, and many others are contending with rising costs amid record inflation, which have led to cutbacks in spending on advertising.</p><p>The company&#39;s shares have lost nearly 39% since it posted results on July 21, contributing to an 80% decline this year.</p><p>Gorman will join Netflix as president of worldwide sales, while Naylor will be vice president of advertising sales starting September, Netflix said in a statement.</p></body></html>","source":"yahoofinance","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Snap Stock Falls 5% After Report it Plans to Lay Off 20% of Workers</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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