Pinterest to cut nearly 15% of workforce as it steps up focus on AI

Pinterest said on Tuesday that it plans to lay off fewer than 15 per cent of its workforce as it looks to reduce office space and redirect resources towards artificial intelligence initiatives, according to a regulatory filing.

The company said it expects to complete the layoffs by late September. In the filing, Pinterest stated that it is reallocating resources to AI-focused roles and teams aimed at driving AI adoption and execution, while prioritising the development of AI-powered products and capabilities.

Pinterest employed 4,666 full-time staff at the end of 2024, meaning that roughly 700 employees are likely to be affected by the cuts, TechCrunch reported.

The move comes as Pinterest, in line with much of the technology sector, has been increasing investment in AI. Earlier this year, the company launched Pinterest Assistant, an AI-powered companion designed to offer users shopping advice and recommendations. It has also begun testing AI-driven personalised boards.

During its most recent earnings call, Pinterest chief executive Bill Ready highlighted the potential of open-source AI models to help the company manage costs more efficiently.

Pinterest said it expects to record pre-tax restructuring charges in the range of $35 million to $45 million as a result of the layoffs.