Pinterest to cut nearly 700 jobs to shift to AI
Social photo sharing site Pinterest announced plans to lay off approximately 15% of its staff and optimize office space. These measures are aimed at reallocating resources toward the development and implementation of artificial intelligence.
As part of this plan, the company will lay off approximately 15% of its workforce, representing approximately 700 employees out of a total of 4,666 as of the end of 2024. The layoffs are scheduled to be completed by September 30, 2026. Pinterest also intends to reduce its office space.
The goal of these changes, according to the company's statement, is to reallocate resources to support key initiatives. These include strengthening teams working on AI implementation, prioritizing AI-based product development, and accelerating the transformation of sales and go-to-market approaches.
Despite previous user criticism related to the abundance of AI-generated content, Pinterest continues to actively develop this area. The company previously implemented tools for tagging and reducing the visibility of such images in feeds. However, in October, it launched an AI-powered shopping assistant that provides personalized recommendations. CEO Bill Ready noted that investments in AI are paying off, and the platform is becoming a shopping assistant for its audience.
The company estimates that the restructuring costs will be between $35 million and $45 million before taxes.
Share
What's Your Reaction?
Like
0
Dislike
0
Love
0
Funny
0
Angry
0
Sad
0
Wow
0