Snap Inc (NYSE:SNAP) is considering slashing its more than 6,000 employee headcount, according to reports.
The Verge reported the social media group is in the early stages of planning a headcount cull, citing sources familiar with the matter.
The plan to lay off staff comes little over a fortnight after it released its financial results for the second quarter on 21 July.
Snap said it had grown its daily active users by 18% year over year to 347 million.
It also boosted turnover by 13% to US$1.1bn in the recent quarter, but its net loss more than doubled to US$422mln.
Snap said at the time its board authorised a stock repurchase programme to buy up to US$500mln of its class A common stock.