Snapchat owner lays off about 10% of its global workforce

Snapchat owner Shap is cutting jobs (Matt Slocum/AP)

The owner of Snapchat is cutting about 10% of its worldwide workforce, or about 530 employees, the latest tech company to announce layoffs.

Snap said in a regulatory filing that it currently estimates 55 million dollars (£44 million) to 75 million dollars (£60 million) in charges, mostly for severance and related costs.