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- Dupont set for Toulouse return after post-Olympic holiday
- French rugby bosses tighten discipline after nightmare Argentina tour
- Oil prices extend gains on Mideast tensions, Wall Street slips
- Visitors to get rare view of Rome's Trevi Fountain
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- Neeskens, tough midfielder in Cruyff's Ajax and Dutch teams
- UN warns world's water cycle becoming ever more erratic
- Oil prices extend gains on Mideast tensions, Wall Street retreats
- Ex-Dutch football star Johan Neeskens dies
- Man Utd battling to improve fortunes, says Evans
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- Masood, Abdullah centuries lift Pakistan to 328-4 in first England Test
- Hurricane Milton strengthens fast, threatens Mexico, Florida
- Tunisia's President Saied set for landslide election win
- Barca hoping to return to Camp Nou 'by end of year'
- Trump to open second golf course at Scotland resort in summer 2025
- Super-sub Jhon Duran rewarded with new Aston Villa deal
- US duo win Nobel for gene regulation breakthrough
- Masood hits first ton for four years to power Pakistan to 233-1
- Fritz wins delayed match to reach Shanghai Masters third round
- Naomi Osaka pulls out of Japan Open with back injury
- Weather may delay launch of mission to study deflected asteroid
- China to flesh out economic stimulus plans after bumper rally
- Artist Marina Abramovic hopes first China show offers tech respite
- Asian markets track Wall St rally on US jobs data
- Pakistan 122-1 at lunch in first England Test
- Kazakhs approve plan for first nuclear power plant
- World marks anniversary of Oct. 7 attack on Israel
- 'Second family': tennis stars hunt winning formula with new coaches
- Philippines, South Korea agree to deepen maritime cooperation
- Mexico mayor murdered days after taking office
- Sardinia's sheep farmers battle bluetongue as climate warms
- Japan govt admits doctoring 'untidy' cabinet photo
- Israel marks first anniversary of Hamas's October 7 attack
- Darvish tames Ohtani as Padres thrash Dodgers
- Asian markets track Wall St rally on jobs data
- Family affair as LeBron, Bronny James make Lakers bow
- Cancer, cardiovascular drugs tipped for Nobel as prize week opens
- As Great Salt Lake dries, Utah Republicans pardon Trump climate skepticism
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- Phillies win thriller to level Mets series
- Yu bags first PGA Tour win with playoff win
- PSG held by Nice to leave Monaco clear at top of Ligue 1
- AC Milan fall at Fiorentina after De Gea's penalty heroics
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Exec departures at Snap after report of workforce cuts
Two top executives at Snap are leaving to join Netflix, the streaming giant said Tuesday, after a report emerged that the Snapchat parent company is to slash its workforce by a fifth.
Netflix said in a statement that Snap's chief business officer Jeremi Gorman and Peter Naylor, the vice president of ad sales for the Americas, will be joining the company in September.
The announcement came after tech news website The Verge reported that the southern California-based Snap Inc. plans to lay off about 20 percent of its more than 6,400 employees. or
Snap declined to comment on the report but shares sank more than four percent to less than $10 in after-market trades.
On an earnings call in July, Snap chief financial officer Derek Andersen said the company has seen "macroeconomic challenges develop" through the first half of this year and that headcount was a significant portion of its operating expenses.
Snap reported that its loss in the recently ended quarter nearly tripled to $422 million despite revenue increasing 13 percent under conditions "more challenging" than expected.
A hit with young internet users in its early days, image-centric ephemeral messaging app Snapchat has remained a small player in the social networking space as competition has grown ever more intense.
The number of people using Snapchat daily grew to 347 million in the recently ended quarter, Snap reported.
Snap recast itself a while back as a "camera company," fielding offerings such as picture-taking glasses called Spectacles and a pocket-sized Pixy flying camera drone.
"Long-term the most exciting opportunity is (augmented reality) and we're investing heavily around the future of AR," Andersen said in the earnings call.
Meanwhile, the battle for people's attention online grows increasingly fierce as established titans such as Meta and Google adapt offerings to changing trends and relative newcomers such as TikTok grab the spotlight.
Ch.Kahalev--AMWN