Pinterest announced Tuesday that it plans to cut up to 15% of its workforce.
The San Francisco-based image-sharing platform used for inspiration for home decor, fashion and other interests is laying off employees as part of a restructuring plan.
Pinterest said in a filing with the U.S. Securities and Exchange Commission that it will use some of the savings to fund “AI-focused roles and teams that advance the adoption and implementation of AI.”
As of April, Pinterest had 4,500 employees in the United States and around the world, including Germany, Japan, and Brazil. The company did not immediately respond to questions about how many cuts it would make in California.
Pinterest is the latest technology company to cut jobs while also focusing on increasing investment in artificial intelligence. Technology companies are in a head-to-head race to advance AI, forcing companies to rethink how they spend their money.
Software company Autodesk announced last week that it would cut 7% of its workforce, or about 1,000 jobs. Meta, the parent company of Facebook and Instagram, is also laying off more than 1,000 employees and closing its content studio. The social media giant, which sells AI-powered smart glasses, has laid off employees focused on the Metaverse, the digital space where people socialize, work, learn and engage in other online activities.
Pinterest lets people buy and find images and videos on the platform to help plan weddings, vacations, and birthday dinners. Users can save images within digital boards to organize their ideas in one place. Pinterest makes money through advertising and competes with big tech companies like Instagram and Google.
Like other companies, Pinterest is focused on AI, which is changing the way people search for content and shop alongside ads. Last year, the company rolled out an AI-powered assistant that provides personalized recommendations for clothing and other products users are interested in purchasing.
“Over the past few years, we’ve transformed Pinterest from a window shopping platform where users often found all stores closed to a visual-first, AI-powered shopping assistant,” Pinterest CEO Bill Ready said in November after the company’s third-quarter results.
But the company also struggled to meet Wall Street expectations that month. Pinterest’s stock price plummeted more than 20% following the company’s disappointing earnings report. Over the past 12 months, Pinterest stock has lost nearly 30% of its value.
Retailers face higher costs due to tariffs and lower ad spending on platforms like Pinterest. Reddy said on Pinterest’s November conference call that retailers are facing “tariff-related margin pressure.”
“We think it’s having a disproportionate impact on big retailers, but given our focus on shopping, we have more exposure to this space than other platforms,” he said.
Pinterest’s third quarter revenue reached $1.05 billion, an increase of 17% compared to the same period in 2024. Net income was $92 million, an increase of 201% from $30 million. The company has approximately 600 million monthly users worldwide.
