Snap confirmed the cuts on Wednesday and will also close more than 300 open roles. The decision follows pressure from Irenic Capital Management, which recently built a 2.5% stake and called for changes to improve performance.

Irenic had urged the company to trim its workforce, review its investments and consider spinning off or shutting down its augmented reality unit, Specs.

Snap said improvements in artificial intelligence are already helping it reduce repetitive work. That shift, it added, means it can operate with fewer staff while keeping output steady.

Chief executive Evan Spiegel told employees the company expects to save more than $500 million a year by the second half of 2026. Those savings will come mainly from lower costs of operations and reduced stock-based compensation.

The company expects to take charges of between $95 million and $130 million linked to the layoffs. Most of that will fall in the second quarter.

Despite the cuts, Snap pointed to steady business performance. It expects first-quarter revenue of about $1.53 billion, up around 12% from a year earlier. Adjusted core profit is projected at $233 million, ahead of market expectations.

The company’s shares rose more than 10% in premarket trading, although the stock is still down about 31% this year.

Attention is also on Specs, Snap’s augmented reality glasses unit. The business has absorbed more than $3.5 billion in investment and continues to burn roughly $500 million a year. Snap plans to launch the product for consumers later this year, even as competition tightens.

Competitors, including Meta Platforms, already have a lead in the smart glasses market, leaving an interesting watch on the unit’s sustainability.

Snap now joins the list of tech companies cutting jobs in 2026, looking for ways to run leaner operations and improve returns.

Working through four different frame styles, the options range from a large rectangular shape to a slimmer version, similar to the glasses often worn by Tim Cook. There are also two rounded options, one larger, one smaller.

Apple is equally trying out colours including black, ocean blue and light brown, hence, the design is not final. Apple could choose one style or release more than one, depending on how testing goes.

These glasses will not include a display. Instead, Apple is focusing on simple, everyday functions. Users will be able to take photos and videos, answer calls, listen to music and speak to Siri. The cameras are expected to use oval-shaped lenses.

Apple had earlier explored more advanced mixed reality devices, but those plans have not moved smoothly. Its headset, the Apple Vision Pro, drew attention at launch but couldn’t gain wide use, partly due to its high price and size.

Now, Apple appears to be taking a more practical route. These glasses are lighter and easier to wear in daily life. The idea is to build something people will actually use, rather than something ambitious but difficult to adopt.

Competition is already building as Meta Platforms has partnered with EssilorLuxottica to produce Ray-Ban smart glasses, which are already on sale and have gained some traction. 

Other companies are not standing still, with Google and Samsung Electronics working together on their own glasses, while Snap Inc. plans to release a new version of its Specs in 2026.

Apple’s strategy, at least for now, rests on design and usability. In offering different smart glasses frame styles, it is trying to appeal to a wider group of users, much like it did with the Apple Watch.

The company is still some distance from launch. However, its direction is to start simple, focus on everyday use, and build from there.

This growth, accompanied by a daily active user base climbing to 443 million, results from Snap’s recent emphasis on enhancing user engagement through its advancements in artificial intelligence (AI) and augmented reality (AR).

The CEO, Evan Spiegel, noted the company’s achievements, crediting their investment in cutting-edge technology as key to the platform’s growth.

“Our efforts have not only spurred community engagement but have also solidified our financial trajectory,” Spiegel said, pointing to AI and AR features as key drivers of creative and interactive experiences that resonate with users and advertisers alike.

In addition to its revenue surge, Snap authorised a $500 million stock repurchase programme aimed at offsetting stock dilution and bolstering employee ownership. 

This buyback initiative, which will unfold over the next 12 months, is subject to market conditions and reflects Snap’s robust financial position, with cash reserves and securities totalling $3.2 billion as of September’s end.

Snap’s performance metrics showed improvements across several areas. The company slashed its net loss to $153 million, down from $368 million the previous year, representing a 58% reduction. Adjusted EBITDA jumped to $132 million, an increase from $40 million, while free cash flow shifted from a negative $61 million last year to $72 million. 

Again, operating cash flow increased to $116 million, further pointing to Snap’s strides in operational efficiency.

The company’s subscription service, Snapchat+, also continued to gain traction, amassing over 12 million subscribers by the quarter’s end—a rise since its introduction in 2022. 

This service, designed for users seeking exclusive features, has diversified Snap’s revenue streams and reinforced user loyalty through access to premium content.

Snap’s active user engagement further grew, with time spent on the platform increasing by 25%, and its video-sharing feature, Spotlight, reaching more than 500 million monthly active users—a 21% uptick compared to last year. 

The platform’s ad business has also expanded with the addition of new formats such as Sponsored Snaps and Promoted Places, aiming to connect brands with its youthful audience in innovative ways.

However, the company’s fourth-quarter revenue forecast of $1.51 to $1.56 billion fell slightly short of analyst expectations. Despite this cautious outlook, Snap remains focused on facilitating long-term growth through further development in AI-driven creative tools and AR, as seen with the launch of the latest Spectacles—a limited-release AR wearable designed for developers. 

This product launch places Snap alongside other tech giants vying for leadership in the AR space, signalling its commitment to exploring new dimensions of digital interaction.

While Snap’s stock rebounded, surging over 10% in after-hours trading, the platform faces challenges from competitors with larger user bases and resources, like Meta and TikTok. 

Through this collaboration, young Nigerians will gain access to Aleph’s Digital Ad Expert (DAE) programme, equipping them with the knowledge and skills necessary to thrive in today’s digital landscape.

Aleph Group connects advertisers with consumers across over 130 emerging markets, facilitating engagement on over 45 of the world’s top digital platforms, including Google, Meta, Microsoft, Pinterest, Reddit, Snap, Spotify, TikTok, Twitch, Uber, X, and more.

In line with President Bola Ahmed Tinubu’s goal of creating 2 million digital jobs by 2025, the DAE program quickly and effectively trains many participants, supporting Nigeria’s digital economy growth.

“Teaching our youth digital advertising skills is crucial for advancing Nigeria’s economy in the digital age,” says Francis Sani, Special Adviser on Innovation, Entrepreneurship, and Capital from Federal Ministry of Communications, Innovation & Digital Economy.

The DAE’s focus on practical, industry-relevant skills, makes it an ideal solution for addressing Nigeria’s digital skills gap.

“The programme will be offered in both live and self-paced formats, ensuring flexibility and accessibility for participants across the country,” comments Aleph Group’s managing director for West Africa, Stanislaus Martins.

Upon completion, graduates will receive a globally recognised Digital Ad Expert certificate, granting them access to Aleph’s extensive alumni network and opening doors to exciting career opportunities in the digital advertising industry.

Aleph Group aims to train 800,000 students across the continent through its DAE programme, and this alliance represents a significant stride towards achieving that goal.

“This collaboration aligns with our mission to foster innovation and create opportunities for young people to thrive in the global digital economy,” said Gaston Taratuta, founder and CEO of Aleph Group.”

With an initial cohort of over 2,600 participants, this alliance is set to more than double participation in DAE in Nigeria.

These processors are an innovative enhancement in data centre computing, built with industry-leading performance, energy efficiency, and advanced capabilities for Google Cloud customers.

Google Axion Processors were built with a focus on addressing challenges such as information retrieval, global video distribution, and generative AI.

Google has invested heavily in custom silicon technology and the Axion Processors are designed specifically for the data centre.

Axion Processors are the latest addition to Google’s portfolio of custom silicon solutions, which includes Tensor Processing Units (TPU) and Video Coding Units (VCU).

These processors are built on the Arm Neoverse V2 CPU architecture, delivering commendable performance for a wide range of workloads, including web and app servers, containerized microservices, open-source databases, and CPU-based AI training.

What sets Axion apart is its outstanding performance and energy efficiency. Google says that Axion processors offer up to 30% better performance than existing Arm-based instances in the cloud, and up to 50% better performance and 60% better energy efficiency than comparable x86-based instances.

This improvement in performance and efficiency will bolster the capabilities of Google Cloud customers, enabling them to achieve new levels of performance, reduce infrastructure costs, and meet sustainability goals.

Axion Processors are underpinned by Titanium, a system of purpose-built custom silicon microcontrollers and tiered scale-out offloads.

This architecture optimizes platform operations such as networking and security, ensuring enhanced performance and efficiency for customer workloads.

Additionally, Axion processors leverage Hyperdisk, a new block storage service that decouples performance from instance size, further enhancing efficiency and scalability.

Google’s collaboration with Arm and industry partners has been very important in the development of Axion Processors.

These processors are built on the standard Armv9 architecture and instruction set, ensuring out-of-the-box application compatibility and interoperability.

Google has contributed to the SystemReady Virtual Environment (VE), Arm’s hardware and firmware interoperability standard, making it easier for customers to deploy Arm workloads on Google Cloud with minimal code rewrites.

The announcement of Axion Processors has garnered excitement and anticipation from Google Cloud customers and partners worldwide.

Industry leaders such as Broadcom, CrowdStrike, Cybereason, Datadog, Elastic, OpenX, Snap, and WP Engine have affirmed optimism for testing Axion-based virtual machines and exploring the potential performance and sustainability gains.

While details about availability and pricing haven’t been disclosed yet, Axion is expected to be available to Google Cloud customers later this year.

[Featured Image Credit]

This integration will enable Snapchat users to showcase their work and other profiles by including links in their Snapchat profiles. Previously, only brands and Snap Stars, who are part of a special program for top creators, had the ability to include links in their profiles.

The partnership with Linktree was initially announced in April, and it has now been expanded to allow any user with a public profile on Snapchat to include links to their Linktree profile. This means that individuals, regardless of being creators or not, can now share additional information and resources with their Snapchat followers through the integration.

Snapchat users who are 18 years or older can create a public profile, which opens up opportunities for them to connect with a wider audience and showcase their work or personal interests. By adding links to their Linktree profile, users can direct their Snapchat followers to external websites, portfolios, blogs, or social media accounts, providing a more comprehensive view of their online presence.

The integration with Linktree reflects Snap’s recognition of the importance of link sharing and provides a new avenue for users to express themselves and connect with others. By expanding the feature to all public profiles, Snap aims to empower its users to curate a more personalized and interactive experience for their followers.

Linktree, a popular link management platform, enables users to create a single link that houses multiple links to different online destinations. This allows individuals to consolidate their various profiles, websites, or content into one easily accessible location, making it convenient for their audience to explore their online presence.

The integration between Snapchat and Linktree opens up new possibilities for users to promote their work, share resources, and connect with their audience beyond the confines of Snapchat’s platform. It offers a seamless way for individuals to provide a more comprehensive view of their interests, projects, or businesses, enhancing engagement and fostering connections within the Snapchat community.

As social media platforms continue to evolve, enabling users to share links and expand their online presence becomes increasingly important. The collaboration between Snap and Linktree represents a step forward in empowering Snapchat users to showcase their work, build their personal brand, and connect with others in a more dynamic and interactive manner.

Snap’s integration with Linktree is set to provide a valuable tool for Snapchat users, further enhancing the platform’s capabilities and broadening the opportunities for creative expression and online engagement.