US EditionPinterest to Lay Off 15% Amid AI Investment
Pinterest will cut about 15% of its workforce, costing $35–45 million, to focus on AI talent and products while reducing office space, the company said.
- In recent months, Pinterest, the company, filed with the U.S. Securities and Exchange Commission announcing a global restructuring to cut around 15% of its workforce and reduce office space, costing $35 million to $45 million.
- Amid a push to prioritize AI, Pinterest is reallocating resources toward AI-focused positions and accelerating a transformation of its sales and go-to-market approach.
- After a 17% year-over-year revenue increase, the company introduced where-to-buy links and AI product discovery features like Make it yours and more ideas to boost shopping engagement.
- Investors reacted as shares dropped about 9-10%, and Pinterest said `The Company plans to reinvest in key development areas and strategic opportunities` in its SEC filing.
- For shoppers, AI features have been applied to the Styled for you feature and holiday-season shopping curation using internal data and expert-curated gift guides.
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12 Articles
Pinterest plans to lay off up to fifteen percent of its workforce, which will release more resources for the development of AI functions and products.
Pinterest to reduce workforce by up to 15% as focus shifts to AI development
New Delhi: Pinterest has announced plans to reduce its global workforce by less than 15%, as part of a broader restructuring effort that includes cutting office space and increasing investment in artificial intelligence. According to a regulatory filing submitted on Tuesday, the job reductions are expected to be completed by late September. With a total of 4,666 full-time employees at the end of 2024, the layoffs could affect approximately 700 w…
After several years of growth driven by e-commerce and advertising, Pinterest is starting a new strategic shift. Like many players, the Californian company is reviewing its internal organisation in order to concentrate more resources on the AI. A reorientation that translates into a heavy decision of consequences for its teams... Pinterest announces a close reduction [...]
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