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Stocks

Snap has started a new round of layoffs – report

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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.

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