Pinterest cuts jobs while reinvesting the savings in AI
- Country
- 🇺🇸 USA
- Company
Pinterest is cutting about 15% of its employee positions and investing the savings specifically in AI technologies and AI-supported product development. Strategic realignment to increase competitiveness through AI capabilities.
Pre-tax restructuring costs: USD 35-45m. Share reaction: the stock fell about 3% before the US market open. Part of the tech industry's trend of shifting resources from staff to AI investment.
Source: cnbc.com ↗ · Archived copy ↗
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