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Report: Snap cutting more jobs

Snap Inc., the parent company of Snapchat messaging service, is cutting more jobs as part of its restructuring program initiated in the fourth quarter, Bloomberg News reported March 29, citing sources with knowledge of the matter.

As part of the latest round of job cuts, the company will lay off 100 people from its ad division.

"Late last year we asked senior leaders across Snap to look closely at their teams to ensure they had the right resources and organizations to support their missions,'' Imran Khan, Snap's chief strategy officer, said in a statement. "Tighter integration and closer collaboration between our teams is a critical component of sustainably growing our business.''

A report earlier this month indicated that the company planned to lay off about 10% of its engineers, or about 100 people.

Snap also cut nearly two dozen jobs across eight teams in January. Prior to that, the company in 2017 laid off employees in its hardware and recruiting divisions.