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Snap Cuts 120 Engineers, Citing Job Performance

socalTECH

Venice, California-based social networking app developer Snap Inc. has laid off more than 120 engineers, according to reports based on internal emails being circulated from the company, saying it had cut its "lowest performing" engineers in recent job reviews. The layoffs represent around 10 percent of Snap's engineering team.

Layoffs 124
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MediaLab acquires messaging app Kik, expanding its app portfolio

TechCrunch LA

It echoes the same message from Kik’s chief executive Tim Livingston last week when he rebuffed earlier reports that the company would shut down amid an ongoing battle with the U.S. ” MediaLab is a holding company that owns several other mobile properties , including anonymous social network Whisper and mixtape app DatPiff.

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Down bad

TechCrunch LA

Last week, we talked about layoffs and the Winklevoss rock gods. Things have already plunged so quickly at the signal of a recession that insiders fear a lengthy bear market could hit crypto far more brutally than expected — tearing tokens to lows far below the highs of the 2017 bull run. Welcome back to Chain Reaction. crash redux.