The American financial website CNBC reported that the layoffs will be the largest of Snap's scales, and will be the first to affect the layoffs of its engineers.
As of now, Snap declined to comment.
Business news site Cheddar reported that Snap’s layoff plan will be announced within a week.
Recently, reports have shown that Snapchat is developing third-generation smart glasses. This version may be equipped with 'two cameras that can present 3D-like depth of field effects in video' and built-in GPS. However, this news is generally not favored by investors. Because the company’s smart eyewear products currently only sell 150,000 units, there are also 'hundreds of thousands' of unsold glasses that are put on hold in the warehouse, which costs the company nearly 40 million US dollars.