Published: Fri, March 09, 2018
Sci-tech | By Brandy Patterson

Snap Inc could layoff nearly 100 engineers within a week

Snap Inc could layoff nearly 100 engineers within a week

While reporting fourth quarter earnings in February, Snap's Chief Executive Evan Spiegel said the messaging company plans to rein in some of that hiring, noted the Journal. The disclosure for this sale can be found here.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in SNAP. First Manhattan Co. boosted its holdings in shares of Snap by 384.5% in the third quarter. Wealthfront Inc. now owns 181,262 shares of the company's stock worth $2,648,000 after buying an additional 66,308 shares in the last quarter. Cambridge Investment Research Advisors Inc. now owns 66,632 shares of the company's stock worth $973,000 after purchasing an additional 12,537 shares during the last quarter.

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TRADEMARK VIOLATION WARNING: "Snap Inc (NYSE:SNAP) Director Sells $419,000.00 in Stock" was first published by StockNewsTimes and is owned by of StockNewsTimes.

The company unveiled a sweeping redesign of Snapchat last month, a change that was widely panned by users.

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COPYRIGHT VIOLATION NOTICE: This report was posted by registrarjournal.com and is the sole property of of registrarjournal.com. If you are reading this story on another website, it was illegally stolen and reposted in violation of United States and worldwide copyright legislation. Snap's stock now sits a little higher than it did when the company first went public previous year. They're Snap's largest layoff to date, although they're still only a small portion of the about 3,000-person company.

Instagram continues to steal Snapchat's users, especially when Instagram introduced the Stories-like feature.

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