Snapchat owner to cut more than 120 engineers

SAN FRANCISCO, March 8 (Reuters) - Snapchat owner Snap Inc will cut just over 120 engineers and reorganize its engineering team, according to a company memo seen by Reuters on Thursday.

The smartphone app known for popularizing disappearing messages will offer a package of benefits to those being laid off, the memo from engineering chief Jerry Hunter said.

(Reporting by David Ingram)