Pinterest Aktie News

Pinterest plans to lay off under 15% of its workforce, as part of broader restructuring that arrives as the image-sharing platform pivots more of its money to artificial intelligence.

Nike isn't the only household corporate name to announce significant layoffs this week. Just a day after the sporting goods giant announced layoffs, citing a further embrace of automation, social media giant Pinterest has announced it will cut jobs.

Pinterest is cutting around 15% of its workforce as it shifts resources to artificial intelligence, according to a Tuesday (Jan. 27) filing with the Securities and Exchange Commission. The layoffs will affect about 700 workers, The Wall Street Journal reported Tuesday.

The social media platform plans to reallocate resources to its artificial intelligence-focused roles and strategy.

Pinterest Inc (NYSE:PINS) shares fell almost 10% after the company said that it will lay off less than 15% of its workforce and reduce office space as part of a broader restructuring aimed at accelerating its shift toward artificial intelligence. The company disclosed the plan in a securities filing, saying the changes are expected to be completed by the end of its third quarter, which ends on ...

Pinterest Inc  (NYSE:PINS) shares are down 7.5% to trade at $23.97 at last glance, after the social media platform announced, in a securities filing, plans to lay off about 15% of its workforce to allocate resources to roles and teams focused on artificial intelligence.

Pinterest's stock drops after a disclosure that it plans to cut about 15% of its workforce, as it reallocates resources to AI-focused roles and products.

Pinterest said on Tuesday that it plans to lay off less than 15% of its workforce to cut back on office space and reallocate resources for its AI initiatives. In a regulatory filing, the company noted it expects to complete the layoffs by late September.