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)

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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


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