Source: New York Post
Snap shares spiked 7% on Wednesday after billionaire CEO Evan Spiegel revealed plans to slash about 1,000 jobs and rely on artificial intelligence to take over their work. Spiegel, whose personal fortune is pegged by Forbes at $2. 3 billion, said he was “deeply sorry” in a staff memo announcing the cuts, which amount to 16% of the Snapchat parent’s overall workforce.
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