RestructuringApr 15, 2026, 06:12 AM
Snap Inc. to Cut 16% of Workforce, Estimates Q1 Revenue $1.529B
AI Summary
Snap Inc. provided an updated financial outlook for the first quarter of 2026, estimating total revenue of approximately $1.529 billion, representing 12% year-over-year growth, and adjusted EBITDA of $233 million. Concurrently, the company announced a plan to reduce its global full-time employee headcount by approximately 16%. This restructuring is intended to streamline operations and accelerate the path toward net-income profitability, with estimated pre-tax charges ranging from $95 million to $130 million.
Key Highlights
- Estimated Q1 2026 total revenue: ~$1.529 billion.
- Estimated Q1 2026 revenue growth: 12% year-over-year.
- Estimated Q1 2026 adjusted EBITDA: ~$233 million.
- Plan to reduce global headcount by approximately 16%.
- Estimated pre-tax charges for reduction: $95 million to $130 million.