Sriven’s Post

Another tech earnings around the corner, and Snap gets out ahead of what are presumably disappointing results with a substantial restructuring of its cost base. The aim here is to use the earnings announcement as the starting gun on a new era for the business, rather than the finishing line for an underwhelming period. That's importat for investors, and also for the employees that Snap needs to keep engaged if it's going to be able to achieve the challenging goals that lay ahead. #investorrelations

To productize SnapStack offering and potentially divide it into packages that would be more understandable for our clients, I started with the top two services our clients frequently request. However, even these do not yet form meaningful packages. So, let's explore: 1️⃣ Recruitment, Recruit to Lease, Staff Augmentation, Consulting, Team Extension, Team Augmentation, Employment of Record, or simply filling a skills gap or covering peak periods in your projects—we assist in all these scenarios. At SnapTalent (a part of SnapStack), we leverage our network and long-term experience in IT to deliver the best talent on the market, scaling our clients' projects within days. 2️⃣ Custom Software Development—tailoring every solution to meet our clients' exact needs. Whether it's a single project or ongoing support, we assemble expert teams based on the specific requirements of each project. With our vast network of IT specialists—many of whom have worked with us on previous initiatives—we can provide top-tier technical talent within just two weeks, allowing us to offer competitive pricing without compromising on quality. Can we offer more than these two "packages"? Absolutely—much more.

Oh Snap. It's as if Snap Inc. management put this round of pink slips into ChatGPT and asked for a series of buzzwords that gloss over layoffs WHILE also fluffing Wall Street for their earnings call today. "We are reorganizing our team to reduce hierarchy and promote in-person collaboration." https://lnkd.in/e863ubMa Translation: "We way overbuilt our overhead, and now we're firing people so you like our stock. PLEASE like our stock." There've been more than 34,000 layoffs in Media and Tech, just so far this year. If this has affected you, and you're struggling with what to do next, please take a look at this link, which includes my personal firing story, and a bunch of resources for starting your journey to what's next: https://lnkd.in/gdJQDFGW And, if you want to join me as I go through ALL the Big Media results from this #earningsseason, join me live, online, for free, here: https://lnkd.in/eqDdgYrE

Snap shares plunge 30%, reasons? Snap shares plunged 30% after reporting a $248 million loss in Q4 2023, though narrower than expected. The conflict in the Middle East impacted growth by 2%, and recent layoffs signal cost-cutting. Despite reaching 414 million daily active users, concerns persist over Snap's monetization strategy. The company remains optimistic about ad-targeting progress and diversification efforts, including the Snapchat+ subscription program with over 7 million subscribers. The brand campaign, "Less Social Media. More Snapchat," reflects Snap's shift toward private conversations. Challenges come amid industry scrutiny and safety concerns, as highlighted in a recent Senate hearing. #snapchat #stockmarket #financialreport #digitaladvertising #info

Deja vu! SNAP just doubled down on RTO! What else happened to the company recently? Stock price crashed by 30 percent since the beginning of the year! Now it is giving employees a 60 day ultimatum to go back to office or leave the company. Are we surprised at all? Some backgrounds: SNAP announced the initial RTO mandate late 2022 following an 80 percent stock price crash. But, at that time, the company still allowed employees to apply for exemptions to the mandate. This time,Snap gives no exceptions to this policy. I am not a legal expert but I will not be surprised if the company gets sued by employees. These lawsuits will create a huge headache for the management. How can they focus on rescuing the company? Do you think the company will bounce back? My answer is NO. Blaming flexible employees will not address the real problem. Unless the top management gets the right mindset, I don’t think the company’s stock is a bargain to buy even after losing close to 90 percent of its value since the peak in 2022.

Snap Inc. announces plans to reduce its global workforce by 10% as it navigates challenges in the competitive tech landscape. ❌ 👻 The decision to downsize, affecting approximately 528 employees, was revealed in a securities filing on Monday morning, just ahead of the anticipated release of Snap's fourth quarter results. 📉 This strategic move from Snapchat's parent company comes amidst financial challenges and increasing competition within the tech industry. The company, which reported a loss of $359.5 million in operating income for the quarter, aims to reallocate resources to support future growth initiatives. 🤖 It's a tricky time for tech, and competition is tough, but what does this mean for the future of Snap? We take a look... 👇

Snap to lay off 10% of global workforce, around 500 employees The social media platform is the latest tech company to continue cutting in 2024. Nearly 24,000 tech workers lost their jobs in January alone. Already this month, cybersecurity and identity company Okta and Zoom have laid off staff. Investors generally support tech companies’ efforts to trim back headcount. Meta , for example, implemented a “year of efficiency” that saw brutal cuts to its workforce. The Facebook owner’s stock reached an all-time high after it reported strong earnings and announced its first-ever dividend. Amazon and Alphabet have also pursued similar headcount reductions. #SocialMediaLayoffs #WorkforceReduction #TechDisruption https://buff.ly/4bC0Ig0

New Post: Snapchat’s parent lays off 10% of workforce in order to ‘reduce hierarchy,’ says company - https://lnkd.in/g6G2Vtj5 - Snapchat maker Snap is the latest tech company to conduct layoffs with its newly announced plans for a 10% workforce reduction, the company said on Monday. The layoffs would impact roughly 500-plus employees, based on headcount figures Snap released in November 2023, when it saw small-scale layoffs of its then north of 5,000 employees. The © 2024 TechCrunch. All rights reserved. For personal use only. - ----------------------------------------------------- Download: Stupid Simple CMS - https://lnkd.in/g4y9XFgR