SOPA Images/LightRocket via Getty Images
- Hurried (NYSE: SNAP) laid off dozens of employees on Friday, according to a report from Business Insider.
- The report cites two people familiar with the company, one of whom said employees are bracing for more layoffs in the coming week as the company reports profits.
- There was no company-wide announcement about the layoffs, BI reported.
- Snap will report earnings on Tuesday, with a huge post-earnings move priced on options.
- Deutsche Bank recently upgraded SNAP to Buy from Hold with a $19 price target, citing improved advertising trends, Snapchat+ growth and partnership with Amazon (AMZN) benefiting the Evan Spiegel-led tech company.