Snap Inc is in early stages of planning layoffs, the Verge reported on Monday, citing people familiar with the plans.
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The scope of the job cuts is currently unclear as managers are still planning it for their teams, the report said, adding that the Snapchat-owner has more than 6,000 employees.
Snap declined to comment when contacted by Reuters.
Snap CEO Evan Spiegel also told employees in a memo in May that the company will slow hiring for this year and laid out a broad slate of problems.
Last month, the company painted a grim picture of the effects of a weakening economy on social media and declined to make a forecast in "incredibly challenging" conditions, sending its shares down 25%.
