Snap Inc, the parent company of Snapchat, said Monday that it is laying off 10% of its staff.
Mandatory Credit:	Mateusz Slodkowski/SOPA Images/LightRocket/Getty Images

Snap Inc, the parent company of Snapchat, said Monday that it is laying off 10% of its staff.
Mandatory Credit: Mateusz Slodkowski/SOPA Images/LightRocket/Getty Images

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Snap lays off 10% of staff, cuts approximately 500 jobs

Snap Inc, the parent company of Snapchat, said Monday that it is laying off 10% of its staff, becoming the latest tech company to conduct a fresh round of job cuts since the start of the year.