Pinterest to lay off 15% of staff to redirect resources to AI

On Tuesday, Pinterest announced its decision to reduce its workforce by nearly 15% as part of a strategic move to optimize office space and channel resources toward its artificial intelligence initiatives. According to a regulatory filing, the company anticipates completing these layoffs by the end of September. The filing revealed that Pinterest is committed to reallocating its resources to roles and teams centered around AI, emphasizing the importance of adopting and executing AI-driven strategies. This shift comes as the tech industry experiences a heightened focus on AI advancements. As of the end of 2024, Pinterest employed approximately 4,666 full-time staff members, meaning that around 700 positions are set to be impacted by this restructuring. Recently, Pinterest has been actively investing in AI technologies, launching features like “Pinterest Assistant,” an AI tool designed to offer shopping advice and personalized recommendations. During the company's latest earnings call, CEO Bill Ready highlighted the potential of open-source AI models to enhance operational efficiency and reduce costs. In light of these changes, Pinterest is expecting to incur pre-tax restructuring charges ranging from $35 million to $45 million.