iWorld
Snapchat parent Snap cuts 16 per cent of workforce in AI-driven restructuring
The Snapchat parent is axing around 1,000 jobs and closing 300 open roles to save $500m, as artificial intelligence makes smaller teams the new normal
CALIFORNIA: Snap is snapping. The Snapchat parent has confirmed plans to cut around 1,000 employees, roughly 16 per cent of its full-time workforce, as it bets that artificial intelligence can do what headcount once required. Shares jumped more than 10 per cent in premarket trading on the news, a brisk vote of confidence from a market that has watched the stock shed about 31 per cent this year.
The restructuring, which also closes more than 300 open roles, follows pressure from activist investor Irenic Capital Management, which holds an economic interest of about 2.5 per cent in the company and has been loudly pushing Snap to tighten its portfolio and lift performance. The firm got what it asked for, and then some.
Chief executive Evan Spiegel told employees the cuts would reduce annualised expenses by more than $500m by the second half of the year. The company expects to incur charges of between $95m and $130m related to the layoffs, mostly severance, with the bulk landing in the second quarter. Staff in Snap’s North America team were asked to work from home on the day of the announcement.
The financial backdrop is not without bright spots. Snap expects first-quarter revenue to rise around 12 per cent to approximately $1.53 billion, broadly in line with analyst estimates. Adjusted core profit for the January to March quarter is forecast at about $233m, comfortably ahead of Wall Street’s expectation of $186.8m.
The harder question surrounds Specs, Snap’s augmented reality smart glasses subsidiary, which Irenic has urged the company to spin off or shut down entirely. The unit has absorbed more than $3.5 billion in investment and burns through approximately $500m in cash annually. Snap is pressing ahead regardless, with a consumer product expected later this year, even as Meta leads the market in the segment.
Spiegel is betting that leaner teams, smarter machines and a consumer AR play can restore Snap’s credibility with investors who have run out of patience. The redundancy notices have gone out. The harder restructuring, the one that requires a hit product rather than a headcount reduction, is still very much pending.
iWorld
Rangrez by Nirvanaland named associate sponsor for Bollywood 90s Jamming
Creative studio to add vibrant fusion art and visual flair to nostalgic music night at Bharat Mandapam on 26 April 2026.
MUMBAI: Rangrez by Nirvanaland is painting the town in 90s nostalgia quite literally as it joins one of Delhi’s most awaited musical evenings with a splash of colour and creativity. The fusion art and design studio, known for its distinctive blend of motion graphics, contemporary merchandise, and visual storytelling, has come on board as the Associate Sponsor for “Bollywood 90s Jamming”, scheduled for Sunday, 26 April 2026 at the iconic Bharat Mandapam in the capital.
Owned and led by visionary photographer and fusion artist Renuka Singh, Rangrez brings a unique aesthetic edge to the event. The collaboration promises to elevate the retro celebration by weaving in artistic elements that perfectly echo the vibrancy, energy, and nostalgia of 90s Bollywood.
From crafting the visual identity to delivering immersive creative engagements, Rangrez is set to add a fresh, colourful layer that turns a simple music night into a memorable multisensory experience. The event, organised and curated by Brand Spotify’s Rohan Sharma alongside Mishita Batra, Akshita Jain, and Ravneet Kaur, will feature a high-energy live performance by India Music Collective, blending sing-alongs, dance floors, and pure 90s magic for Delhi’s music lovers.
Speaking on the association, Mishita Batra said, “Collaborating with Rangrez by Nirvanaland adds a powerful creative dimension to Bollywood 90s Jamming. Their artistic approach perfectly complements the nostalgic and high-energy vibe we are creating. Together, we aim to deliver not just a musical evening, but a visually immersive experience that audiences will remember long after the night ends.”
With tickets already generating strong interest and currently available on Bookmyshow and District by Zomato, anticipation is building fast across the city. Delhiites can look forward to dusting off their denim, hitting the dance floor, and reliving the golden era of Bollywood hits in a setting transformed by Rangrez’s signature creative flair.
In a city that loves its music as much as its drama, this partnership ensures the evening will be anything but monochrome. Expect bold visuals, fusion aesthetics, and a night where nostalgia meets modern artistry, all set to a killer 90s soundtrack. Mark your calendars, 26 April could just be the most colourful rewind of the year.
