Snap will save $25 million this year after cutting 7% of its staff in two separate rounds of layoffs (SNAP)

Snap Inc., parent company of the popular photo messaging app Snapchat, laid off around 7% of its staff in March. The company expects to save $25 million in 2018 on payroll and taxes, it said in a filing Friday. Around $10 million of that savings will go toward severances. Despite the savings, the company has one other major expense this year. Snap expects to lose between $25 million and $45 million as it vacates existing leases around Santa Monica. It's been a rough March for employees at Snap I...