Snap lays off 18 employees in recruiting division

Reuters News
Posted: Oct 20, 2017 5:02 PM

SAN FRANCISCO (Reuters) - Snap Inc <SNAP.N> said on Friday it had laid off 18 employees in its recruiting division, a move to cut costs as the parent company of messaging app Snapchat faces competition from Facebook Inc <FB.O> for users and advertising dollars.

Snap declined to comment beyond confirming the job cuts, which were first reported by Business Insider.

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(Reporting by David Ingram; Editing by Leslie Adler)