A January 8th memo from Snap Inc.’s chief legal counsel threatened harsh punishment for employees leaking company information.
That memo, naturally, was swiftly leaked to Cheddar.
“If you leak Snap Inc. information, you will lose your job and we will pursue any and all legal remedies against you,” the memo read in part. “And that’s just the start. You can face personal financial liability even if you yourself did not benefit from the leaked information. The government, our investors, and other third parties can also seek their own remedies against you for what you disclosed. The government can even put you in jail.”
Snap declined to comment on the memo to Cheddar.
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Cheddar was also the recipient of the previous leaks that appear to have put Snap management on the warpath. The millenial-focused business channel recently reported on unannounced plans for what Snapchat called its “Stories Everywhere” platform expansion, as well as reporting a recent round of layoffs.
Snap, parent company of the Snapchat social app, has been struggling following a disappointing IPO in early 2017. It has shown stalled user growth, and above all is facing brutal competition from Facebook’s Instagram app.
Snap stock is off more than 40% from its post-IPO high.