Evan Spiegel Ukraine CEO Evan Spiegel Ukraine

Snap Stock Plunges 30% After Warning of Q2 Earnings Miss

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thewrap.com

memo to staffers, CEO Evan Spiegel said that the company will hire only 500 additional employees compared to the 2,000 over the last year.

In the note, he attributed the slowdown to rising inflation and interest rates, supply chain shortages, the war in Ukraine and labor disruptions — all of which are challenging tech players in recent quarters..

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