Up to 700 employees are set to be laid off by September 30th.
Up to 700 employees are set to be laid off by September 30th.
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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 “less than 15 percent” 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 today’s announcement. The document said these changes are to support three “transformation initiatives,” with two of them connected to AI:
- Reallocating resources to AI-focused roles and teams that drive AI adoption and execution
- Prioritizing AI‑powered products and capabilities
- Accelerating the transformation of its sales and go-to-market approach
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.
This story is developing…