Pinterest intends to lay off 15% of its employees to redirect its resources to artificial intelligence

Pinterest said Tuesday it plans to lay off less than 15% of its workforce to shrink office space and reallocate resources to its AI initiatives. In a Regulatory filingThe company indicated that it expects to complete the layoffs by late September.

Pinterest will “reallocate resources to AI-focused roles and teams that drive AI adoption and implementation” and “prioritize AI-powered products and capabilities,” the filing said.

The company had 4,666 full-time employees at the end of 2024, meaning approximately 700 workers will be affected by the cuts.

The move comes at a time when Pinterest, and all other tech companies, are investing in artificial intelligence. A few months ago, the company Launch Pinterest Assistant AI users can talk to them for shopping tips and recommendations. I started too Personalized experience powered by artificial intelligence Paintings.

During Pinterest’s recent earnings call, Pinterest CEO Bill Reidy He stressed the promise of open source AI models to help the company reduce costs.

The company said it expects to record pre-tax restructuring charges of about $35 million to $45 million.