Biography Flash Evan Spiegel AI Takeover How Snapchat Fired 1000 and Saved 500 Million

Snapchat's making seismic waves this week, darling, with CEO Evan Spiegel dropping the bombshell that AI now writes a whopping 65 percent of all new code powering the app for 800 million users, according to his recent earnings call dissected by Code and Kush on YouTube. He didn't mince words: that AI revolution led to firing 1,000 full-time employees—16 percent of the workforce—plus axing 300 open roles, as confirmed in a company memo reported by TheStreet, saving over $500 million annually to fuel more AI, AR, and VR bets. Wall Street cheered with a 7 percent stock surge, even as Snap stays profitable on $5.4 billion in 2025 revenue. This isn't survival mode; it's a bold pivot, restructuring engineering, product, and ops teams while offering laid-off staff four months severance, healthcare, and equity perks—generous by tech standards, per WARN filings in California.

TheStreet notes this fits the tech bloodbath, with over 52,000 sector job cuts this year alone, many blamed on AI shifts, and Snap's move screams long-term blueprint for rivals like Meta and Google watching closely. Adding intrigue, long-time CFO Derek Andersen's planned exit piles on leadership flux, as Simply Wall St analyzes amid activist investor Randian Capital's pressure—shares dipped to $5.65 but whisper undervalued at $9.58 fair value, eyeing AR/AI growth. No fresh public sightings of Spiegel or social buzz in the last 48 hours, but this AI-layoff combo could redefine Snapchat's biography as the pioneer turning code into a machine-led empire.

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