Snap (SNAP), Netflix (NFLX): Netflix has hired two ad executives from Snap, Netflix confirmed to Yahoo Finance. Snap Chief Business Officer Jeremi Gorman and Vice President of ad sales Peter Naylor will be joining the streaming giant in September. Netflix COO Greg Peters said in a statement to Yahoo Finance, "Jeremi’s deep experience in running ad businesses and Peter’s background in leading ad sales teams together will be key as we expand membership options for consumers through a new ad-supported offering.” The streaming giant is planning to launch its new ad-supported tier early next year. On Tuesday, The Verge reported Snap is laying off 20% of its employees, including cuts in its hardware division and a restructuring of its ad sales organization.