Pinterest cuts workforce by around 15 percent to focus on AI
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TL;DR
- Pinterest plans to lay off up to 700 employees by September 30th, 2026.
- The layoffs represent less than 15% of the company's current workforce.
- These cuts are intended to fund the company's artificial intelligence initiatives.
- Resources will be reallocated to AI-focused roles, AI-powered products, and sales transformation.
- Pinterest expects pre-tax restructuring charges of $35 million to $45 million.