This is the third round of layoffs for Snap in a year that's only three months old. People who had inside knowledge of the issue say this is the last round of cuts associated with a restructuring plan that was put into place last year. The company previously let go staff from the engineering and content teams.

"These changes reflect our view that tighter integration and closer collaboration between our teams is a critical component of sustainably growing our business," Chief Strategy Officer Imran Khan said in a statement to Bloomberg. "While this process has required us to make some really tough decisions, we believe that rigorously ensuring our team structure always aligns with our goals will make us stronger."

Snap has had its share of troubles over the last year. The company has been losing ground to its rival, Instagram, and it's unclear how successful its original content has been. However, its fourth quarter was its best since launching an IPO in March of 2017, so this reorganization may end up working out in the medium term.