"Pinterest said Tuesday it's planning to slash up to 15% of its workforce. The San Francisco-based image-sharing platform used for inspiration for home decor, fashion and other interests is laying off workers as part of a restructuring plan. It will partly use the savings to fund "AI-focused roles and teams that drive AI adoption and execution," Pinterest said in a filing with the U.S. Securities and Exchange Commission."
"As of April, Pinterest had 4,500 employees worldwide in the U.S. and other countries such as Germany, Japan and Brazil. The company didn't immediately respond to questions about how many of those cuts would be in California. Pinterest is the latest tech company cutting jobs while also focusing on investing more in artificial intelligence. Tech companies are competing head-to-head in a race to advance AI, prompting businesses to rethink how they spend their money."
"Last week, software company Autodesk said it was slashing 7% of its workforce or roughly 1,000 jobs. Meta, the parent company of Facebook and Instagram, is also laying off more than 1,000 employees and shuttering content studios. The social media giant, which sells AI-powered smart glasses, laid off workers who focused on the metaverse, digital spaces where people socialize, work, learn, and pursue other online activities."
Pinterest plans to cut up to 15% of its workforce as part of a restructuring and will use some savings to fund AI-focused roles and teams. The company had about 4,500 employees worldwide as of April, with staff in the U.S., Germany, Japan and Brazil, and it did not immediately say how many cuts would affect California. The move follows broader tech-industry shifts where companies are both trimming staff and increasing AI investments. Pinterest operates an image-sharing platform that lets users save images to digital boards, earns revenue from advertising, and competes with Instagram and Google. Last year the company rolled out an AI-powered assistant that provides personalized recommendations for clothing and other products.
Read at Los Angeles Times
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