Snap to cut ~20% of global headcount; preliminary Q3 revenue growth ~8%

Snap Inc

Reduce global headcount by ~20% as part of strategic reprioritization; expects pre-tax charges of $110M-$175M in Q3 2022.
Preliminary Q3 revenue growth through Aug 29, 2022 of ~8%; not providing Q3 revenue or adjusted EBITDA guidance.
Jerry Hunter promoted to COO, effective Aug 30, 2022; awarded $19.5M in RSUs vesting over 39 months.
Chief Business Officer Jeremi Gorman to leave Sept 16, 2022; transition agreement signed.
Discontinuing Snap Originals, Minis, Games, Pixy; winding down Zenly and Voisey standalone apps.

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