Pinterest laying off 15% of workforce in push toward AI roles and teams
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on Pinterest The company said Tuesday it plans to lay off less than 15% of its workforce and reduce office space as it embraces artificial intelligence.
Inside securities filingPinterest said it expects the outages to be completed by the end of the third quarter in late September. Shares of Pinterest were down about 3% premarket.
The social media company said it was “reallocating resources to AI-focused teams” and prioritizing “AI-powered products and capabilities.” The company said it is also reshaping its sales and marketing strategy.
According to the latest report, Pinterest had more than 4,500 employees worldwide as of last April. filing power of attorney.
Pinterest said it expects to record pre-tax restructuring charges of approximately $35 million to $45 million.
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