Dossier
Iren, Capital Management
Coverage of Iren, Capital Management in the Nexus archive.
- Snap Inc blames AI as it lays off 1,000 workers
Snap Inc, the parent company of Snapchat, plans to lay off 1,000 workers (16% of its workforce) citing 'rapid advancements in artificial intelligence' and pressure from activist investor Irenic Capital Management. The layoffs aim to improve profitability and align with strategic shifts driven by AI adoption.