Snap Inc. said on Wednesday that it will lay off about 1,000 employees and close more than 300 unfilled positions as part of a cost-cutting effort.

Snap Inc., the company behind the social media app Snapchat, has revealed plans to launch its newest augmented reality (AR) glasses, called Specs, in 2026. The announcement was made at the Augmented World Expo 2025, marking the company's latest attempt to establish itself in the wearable AR market after mixed results with previous iterations of its 'Spectacles' line.