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Pinterest Restructures Around AI, Cuts 600+ Jobs Amid Market Slide

Pinterest Restructures Around AI, Cuts 600+ Jobs Amid Market Slide

Author:

Global Cryptocurrency

Published:

2026-01-27 21:52:02

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BTCCSquare news:

Pinterest shares plummeted over 10% following announcements of sweeping layoffs and a strategic pivot toward artificial intelligence. The company will eliminate 600-675 positions globally by late September, incurring $35-$45 million in restructuring costs primarily from severance and reduced office footprints.

The visual discovery platform is aggressively reallocating resources to AI-driven initiatives, deprioritizing non-core functions. Recent product launches like the Pinterest Assistant shopping tool and automated ad technologies underscore this transition. "Our investments in AI and product innovation are paying off," asserted CEO Bill Ready during November earnings.

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