Snap plans to “substantially reduce” hiring, authorizes a stock repurchase program of up to $500M, and locks in CEO and CTO roles until at least January 1, 2027 (Hannah Murphy/Financial Times)

Snap plans to “substantially reduce” hiring, authorizes a stock repurchase program of up to $500M, and locks in CEO and CTO roles until at least January 1, 2027 (Hannah Murphy/Financial Times)

Hannah Murphy / Financial Times:
Snap plans to “substantially reduce” hiring, authorizes a stock repurchase program of up to $500M, and locks in CEO and CTO roles until at least January 1, 2027  —  Social media company blames tough economic conditions as it posts net losses of $422mn