Pinterest to Slash Nearly 15% of Workforce in AI-Powered Restructuring

Company Restructuring - Pinterest is reducing its workforce by nearly 15% as part of a strategic pivot towards artificial intelligence [1][2] - The restructuring plan, approved by the board, will affect fewer than 15% of employees and includes office space reductions [2] - The company aims to reallocate resources to AI-focused roles and teams, prioritizing AI-powered products and capabilities [3] Financial Impact - The restructuring is expected to incur charges between $35 million and $45 million, primarily in cash-related expenditures [4] - Despite the reduction in staffing, Pinterest plans to reinvest in key development areas and strategic opportunities [4] Industry Context - The announcement comes amid increasing warnings from AI industry leaders about potential workforce displacement due to AI advancements [5] - Other tech companies, such as Meta Platforms, are also restructuring their workforce to focus on AI, indicating a broader trend in the industry [7]