Pinterest is planning to lay off hundreds of workers and reduce its office space to reallocate resources for its artificial intelligence initiatives. In a regulatory filing posted Tuesday, Pinterest says the reduction is expected to impact âless than 15 percentâ of its current workforce, and that the layoffs should be complete by September 30th, 2026.
Pinterest said it had 4,666 full-time employees as of the end of 2024, which would mean around 700 staffers are impacted by todayâs announcement. The document said these changes are to support three âtransformation initiatives,â with two of them connected to AI:
Off the back of these changes, Pinterest is set to incur pre-tax restructuring charges of approximately $35 million to $45 million.
We have reached out to Pinterest for comment.
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