By Yuvraj Malik
Publication Date: 2026-04-15 08:12:00
The layoffs could be announced on Wednesday, according to a report in tech newsletter Source.com.
- The report also says that Snap’s $400 deal with Perplexity has fallen through.
- Radiant Capital, which claims to be an investor, said 16% of its staff, about 840 workers, would be affected.
- Snap shares jumped 2.5% in Wednesday’s premarket, and retail sentiment improved to ‘bullish.’
Snap, Inc. shares jumped 2.5% in the early premarket session on Wednesday, amid fresh rumors about the social media company planning a sizable reduction in its workforce. The stock is on track to end higher for a third straight session if premarket gains are sustained.
U.S. multinationals have continued trimming their workforces into 2026 as AI-driven tools boost efficiency and companies reallocate resources across projects for the AI era. In recent months, Uber, Meta and Block have announced cuts.
Tech newsletter Source.com, which broke the news, said Snap could announce the layoffs as soon as today. The “sweeping cuts” will more distinctly separate the legacy Snapchat business from the company’s augmented reality glasses business, the report said.
Snap’s Perplexity Deal Gone?
Some teams would be halved while the Specs subsidiary will gain employees ahead of the glasses’ imminent launch, the report’s writer, Alex Heath, said in an X post. He also added that the company’s agreement with Perplexity, signed last November and reportedly worth $400 million, has fallen through.
