Snap plans to cut staff by 20%: report

Snapchat parent Snap Inc is planning to lay off about 20% of its more than 6,400 employees starting Wednesday, the Verge reported on Tuesday, citing people familiar with the matter.

Snap’s hardware division, responsible for Spectacles and the Pixy camera drone, its team working to help developers build mini apps and games inside Snapchat and Zenly, the social mapping app it bought and runs separately, will be hit by the layoffs, according to the report.