Snap is seesawing after announcing layoffs (SNAP)

pulse

March 29, 2018 4:21 PM

Snap is hovering around $15 a share Thursday. Job cuts put early pressure on the stock, before the stock began a slight uptick.

The company announced it was eliminating 100 jobs in advertising and sales.
See Snap trade in real time

Shares of Snap are seesawing Thursday, currently up 0.31%, after Imran Khan, the company's chief strategy officer, said the company intends to cut 100 jobs in advertising and sales, according to a Bloomberg report.

Snap has fallen just 2.5% since March 19th, the day the broader tech sell-off began on news of Facebook's massive data breach. The broader Nasdaq 100 has slumped 6.6% over that time.

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