Layoffs a chance to prove haters wrong, says Snap CEO amid 20% job cuts

In a meeting held with employees after he confirmed 20% job cuts, Snap CEO Evan Spiegel reportedly said that while this was a setback, it was a chance to “prove the haters wrong”. Some employees said that the alleged statement didn’t help the meeting’s tone and mood. Snap is laying off around 1,200 employees to reduce costs amid weak revenue.