Snapchat

The company continues to face competition from bigger rivals such as Meta

Australia last year became the first country to ban social media for children under 16

The firm expects to cut over US$500m in annual expenses by year’s second half through these layoffs

Tech companies can face a fine of up to A$49.5 million (S$43.9 million)

Platforms must block people aged under 16 or face a fine of up to A$49.5 million (S$45 million)

ICO fined Reddit nearly £14.5 million (S$24.8 million) last month

France, Spain, Italy, Denmark and Greece are also jointly testing a template for an age verification app

SNAP will start checking many users’ ages in Australia as it prepares for a world-first social media ban for under-16s next month.

META Platforms, ByteDance, Alphabet and Snap must face trial over claims that they designed social media platforms to addict youths, a judge ruled, clearing the way for the first of thousands of cases to be presented to juries.