Tag: grows
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Snapchat cutting its workforce by 20% as pressure grows on social media businesses
Snap Inc. said Wednesday it is reducing its workforce by approximately 20% and overhauling its business to cut costs and compete as American social media companies face challenges from competitors, regulators and users’ diverted attention. Snap owns the social media platform Snapchat, which became popular by showcasing images and videos and featuring vanishing messages. As…