Tuesday, September 26, 2023

Pinterest’s new round of layoffs comes weeks after its latest cuts

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Illustration of the Pinterest logo, seemingly made from shards of glass.
Illustration by Alex Castro / The Verge

Pinterest reportedly laid off about 150 people afterward already cut jobs in December, according to Bloomberg. from Bloomberg report says this is less than five percent of Pinterest’s workforce, and they affect different teams.

The company says it is making “organizational changes to further prepare us to meet our business priorities and long-term strategy,” according to a statement issued to The edge by spokesperson Meredith Klein. The number of employees involved was not stated. The people who lose their jobs will receive “divorce packages, benefits and other services,” according to Klein.

There have been a lot of layoffs in the technology sector lately, with Amazon cutting 18,000 jobs, Google letting go 12,000 workers, and Meta, Microsoft, and more eliminating thousands of workers. But the fact that Pinterest is shrinking its workforce so quickly after the latest round is concerning.

We may get a bigger picture of what’s happening at the company on Monday when it will release its fourth-quarter financials.

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