The restructuring will cost Snap between $95 million and $130 million, including severance payments, contract terminations, and other charges, with most costs expected in the second quarter.
On the tech side, Snap is leaning heavily into AI: more than 65% of its new code now uses it, and its AI tools handle more than 1 million queries every month.
Financially, things are looking steady: first-quarter revenue is set to hit around $1.5 billion, matching Wall Street expectations and beating analysts' expectations for adjusted core profit.