pinterest layoffs AI.

FILE - Banners for Pinterest, displayed to mark the fifth anniversary of the company's listing, hang on the front of the New York Stock Exchange in New York, May 15, 2024. (AP Photo/Peter Morgan, File)

Pinterest will lay off 15% of its workforce as the platform pivots resources to AI

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. In a Tuesday filing, the company says these cuts support “transformation initiatives,” which include reallocating resources to AI roles and products. Pinterest also says it will reduce office space. The restructuring is expected to finish by the end of September, with pretax charges of $35 million to $45 million. Pinterest’s job cuts will impact hundreds of workers. Shares of Pinterest fell more than 9% as of midday trading Tuesday.

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