Snap reportedly plans to lay off around a fifth of its employees

According to reports, Snap is getting ready to let go of almost 20% of its workforce.

According to The Verge, the company, which employs more than 6,400 people, will begin terminating workers on Wednesday.

There will apparently be layoffs at the business' hardware division, which recently put a halt to the Pixy selfie drone's development.

According to the article, one of the groups that will be worst hurt by the changes is one that was developing tools to aid developers in creating games and small apps for Snapchat.

The $4 per month Snapchat+ subscription service, which grants early access to new features like knowing who re-watched a story and pinning a buddy to the top of the conversation history, is one recent bright light for Snap.

According to the article, the advertising sales force will also be reorganised.

Snap has had a difficult year, with its stock price falling by 80% since January amid a general economic slump that has impacted several well-known internet companies.

Zenly, a social mapping software that Snap purchased in 2017 and continued to operate independently, is anticipated to be severely harmed.