Social media company Snap is laying off about 10% of its employees worldwide, reports Forbes. More than 500 employees will be laid off as part of Snap’s latest round of cuts in order to “best position our business to execute on our highest priorities,” according to a regulatory filing. The exact number of employees being laid off is unclear. Snap’s last public headcount was 5,367, according to the company’s quarter three earnings press release. Snap told Forbes it is “reorganising” its team to “reduce hierarchy and promote in-person collaboration.”

This is the latest set of job cuts in a string of layoffs from the social media company. Nearly 20 employees were laid off from Snap in November, and in August 2022, the company cut 20% of its workforce in an effort to restructure.