San Francisco: Pinterest Inc. is laying off about 150 employees, the latest technology company to cut costs in a turbulent time for an industry that expanded rapidly over the past few years.
The digital-search company that lets users create online pinboards informed impacted employees Wednesday. The move affected less than 5 per cent of Pinterest's total workers, according to a person familiar with the company, who asked not to be identified because the details haven't been announced.
- Tech layoffs: IBM to cut about 3,900 workers, still hiring in 'higher growth' areas
- Tech layoffs: Spotify seen cutting staff as soon as this week to cut cost
- Meta layoffs: Months after firing 11,000, Facebook CEO hints at more job cuts
- Tech layoffs: Microsoft to cut over 10,000 jobs
- Intel slashes CEO pay by 25% as part of companywide cuts
Pinterest had about 4,000 employees as of the end of the third quarter. The job cuts came from teams across the San Francisco-based company, though not all were affected to the same degree, the person said.
A spokeswoman for Pinterest confirmed there were cuts.
"We're making organizational changes to further set us up to deliver against our company priorities and our long-term strategy," the representative said in a statement.
"Our employees are the heart of how we're able to serve our Pinners around the world. All of the employees who were impacted contributed to Pinterest and as they transition, we're committed to supporting them with separation packages, benefits and other services."
Pinterest joins a range of tech companies that have pared their ranks in recent months. Amazon.com Inc., Microsoft Corp., Meta Platforms Inc. and Google parent Alphabet Inc. have all announced job cuts in the thousands.
Pinterest was recently the target of activist investors from Elliott Management, and one of the firm's managers was added to the company's board.