Snap Inc. announced plans to cancel ongoing projects such as Snap Originals, in-app multiplayer games, HTML mini-apps built by outside developers, and future development of its Pixy selfie-camera drone — all part of a corporate restructuring that will include laying off about 20 percent of its more than 6,400 employees. The company, which operates the popular social media app Snapchat, is taking cost-cutting measures as it faces growing competition from TikTok and other rivals and challenges to its core digital advertising business. Continue reading Snap Canceling Projects and Cutting 20 Percent of Workforce