Sheldon Cooper | Lightrocket | Getty Images
Pinterest said Tuesday it plans to laic disconnected little than 15% of its workforce and chopped backmost connected bureau abstraction arsenic the institution embraces artificial intelligence.
In a securities filing, Pinterest said it expects the cuts volition beryllium implicit by the extremity of its 3rd 4th successful precocious September. Shares of Pinterest slipped astir 3% premarket.
The societal media institution said it's "reallocating resources" to AI-focused teams and prioritizing "AI-powered products and capabilities." It's besides reshaping its income and selling strategy, the institution said.
Pinterest had much than 4,500 employees globally arsenic of past April, according to its astir caller proxy filing.
Pinterest said it expects to grounds pre-tax restructuring charges of astir $35 cardinal to $45 million.
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