Snapchat has been able to pull itself out of its poor economic situation in recent years. February saw the first positive business quarter ever. The Verge has gotten its hands on an employee memo from Snap CEO Evan Spiegel describing a worsening outlook again.
First and foremost, Spiegel would like to thank the employees for their hard work. However, rising inflation, interest rates, delivery problems, etc. do not make things easy for the company.
The business figures for this quarter are expected to remain below expectations and forecasts, which is why the settings are being scaled back. 500 new colleagues are to come, 2000 in the last 12 months. Investments are also to be scaled back or prioritized elsewhere in order to keep the figures at a tolerable level.