Layoffs at Snapchat: An Explanation from the CEO

Evan sent the following email to Snapchat employees earlier today. Greetings, Snapchatters! As many of you have heard, we here at Snapchat have unfortunately had to make the difficult decision to lay off 10% of our employees. We know this is difficult news to hear, and I want to take this opportunity to explain what happened and why I, as CEO, take full responsibility for this tough decision. As you may know, the tech world has been abuzz with speculation about the cause of the layoffs. While there were certainly a number of factors at play, the biggest contributor was the emergence of a new, powerful force in our organization: demons. Yes, you heard that correctly: demons. I had no idea they even existed, until one day several months ago I noticed a strange presence in one of our conference rooms. After further investigation, we discovered that we had unwittingly unleashed a bunch of demons into our office, who proceeded to wreak havoc on our productivity and morale. As a result, we had to take drastic action and lay off 10% of our staff to remain competitive. I take full responsibility for this decision, and although it was one of the hardest things I've ever had to do, it was necessary to ensure the long-term success of our company. I am deeply sorry for the individuals affected by the layoffs, and I want you to know that we are doing everything we can to support them. I know this news has been hard to swallow, but please remember that Snapchat is still strong and vibrant, and we will continue to work hard to create delightful products for our users. Best, Evan Spiegel, CEO