LEGEND ☄️

$SNAP is laying off ~16% of its workforce while guiding for ~$1.53B in Q1 revenue, ~$233M EBITDA and up to $130M in restructuring charges. Tough scene for morale when layoffs hit right after the CEO Evan Spiegel is having the time of his life at Coachella.

In a letter sent Tuesday to Athletic Executive Editor Steven Ginsberg and obtained by The Associated Press, Dianna Russini said: “I have covered the NFL with professionalism and dedication throughout my career, and I stand behind every story I have ever published. When the Page Six item first appeared, The Athletic supported me unequivocally, expressed confidence in my work and pride in my journalism. For that I am grateful. In the days that followed, unfortunately, commentators in various media have engaged in self-feeding speculation that is simply unmoored from the facts. Moreover, this media frenzy is hurtling forward without regard for the review process The Athletic is trying to complete. It continues to escalate, fueled by repeated leaks, and I have no interest in submitting to a public inquiry that has already caused far more damage than I am willing to accept. Rather than allowing this to continue, I have decided to step aside now — before my current contract expires on June 30. I do so not because I accept the narrative that has been constructed around this episode, but because I refuse to lend it further oxygen or to let it define me or my career.”