Snap (SNAP) will lay off approximately 1,000 employees, representing 16% of its workforce, citing efficiency improvements driven by artificial intelligence. The company aims to achieve annualized cost savings exceeding $500 million by the second half of 2026. Snap also forecasts first-quarter revenue growth of approximately 12% year-over-year, with adjusted core profit estimated at around $233 million. The company's stock rose more than 10% in pre-market trading.
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