Pinterest to lay off 15% of workforce in move towards AI

Layoffs to be finished by late September, as company ‘reallocating resources’ to AI-focused teams, prioritizing ‘AI-powered products and capabilities’

By Mucahithan Avcioglu

ISTANBUL (AA) - Pinterest announced Tuesday that it plans to lay off less than 15% of its workforce and cut back on office space as the firm embraces artificial intelligence (AI).

The US-based social media company said in a securities filing that it anticipates finishing the layoffs by late September, the end of its third quarter.

It stated that it is giving priority to "AI-powered products and capabilities" and "reallocating resources" to AI-focused teams. Additionally, it said it is changing its marketing and sales approach.

Pinterest has attempted to integrate AI throughout its site to provide consumers with more personalized and relevant content. A shopping feature called "Pinterest Assistant" was introduced last October.

In response to growing competition from TikTok, Meta's Facebook and Instagram, Pinterest has launched automated advertising solutions for businesses.

According to its most recent proxy filing, Pinterest employed more than 4,500 workers worldwide as of last April.

The firm said it expects re-tax restructuring charges of between $35 million and $45 million.

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