The Short Version
Snap cut 1,000 jobs and spun out an AR subsidiary before its AWE keynote, where it must show consumer glasses are still on track.
Snap cut 1,000 jobs, lost its top AR executive to internal strategy fights, and spun its AR work into a separate company. Its AWE keynote in June is not a product reveal, it is a credibility test. If Snap walks out without a firm launch timeline for consumer glasses, the restructuring stops looking like a bold move and starts looking like a slow exit.
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