Not a Happy Labor Day for TikTok or Snap...??

Many, if not all, social media platforms have faced falling advertiser demand thanks to a cooling economy, global events like the war in Ukraine, and privacy changes introduced by #Apple that makes targeting and measuring mobile campaigns more challenging.

Last week, #Snap CEO Evan Spiegel outlined a restructuring plan that includes laying off 20% of employees. And,?#TikTok cut employees from its US #advertising department as part of a restructuring of the unit.

It seems that?there is no mercy in the highly competitive #SocialMedia category. Perhaps it is time to batten down the hatches as we enter the final trimester of 2022.

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