Pinterest announced a global restructuring plan that includes laying off up to 15% of its workforce, which amounts to roughly 700 jobs. The company stated the move is part of a broader effort to reallocate resources toward strategic priorities, particularly artificial intelligence.
As part of the restructuring, Pinterest also plans to reduce its office space. The company anticipates incurring pre-tax charges between $35 million and $45 million related to these changes, which it expects to complete by the end of the third quarter of 2026. The social media platform aims to reinvest in key areas, focusing on roles and teams that support the adoption and execution of AI-powered products.