In a filing with regulators, Snap stated that the costs of these cuts, including severance and related expenses, would amount to between $95 million and $130 million. "The reduction in headcount is designed to further simplify our business and reallocate resources toward our highest priorities, leveraging increased operational efficiency to accelerate our path to profitability on a net income basis," the company said in the filing. As of December 31, 2025, Snap had 5,261 full-time employees, according to the company's latest annual report. CEO Evan Spiegel informed employees in a memo that an additional 300 open positions would not be filled. This is not the first time the Santa Monica, California-based company has reduced its workforce. During 2024, Snap laid off 10% of its workforce, or about 530 employees. At the end of 2023, the company reduced its workforce by 3%, while in 2022 it cut as much as 20% of its staff. Snapchat, which is particularly popular among younger demographics and known for disappearing photos and videos, averages 474 million daily active users, according to the annual report. In its latest financial report, Snap announced that its net loss in 2025 narrowed to $460 million, while revenue increased to $5.9 billion.