Stock Track | Pinterest Stock Plummets 5.10% Intraday Following Announcement of Layoffs and AI Restructuring

Stock Track01-27

Pinterest, Inc. (PINS) shares plummeted 5.10% during intraday trading on Tuesday, following the company's announcement of a significant restructuring plan.

The social media platform revealed plans to cut its workforce by less than 15% and reduce office space as part of a global restructuring. The move is designed to reallocate resources toward artificial intelligence-focused roles and teams, prioritizing AI-powered product development. The company expects to incur pre-tax restructuring charges between approximately $35 million and $45 million related to these initiatives.

Market reaction to the announcement was negative, with investors likely weighing the near-term financial impact of the restructuring charges against the company's strategic pivot to focus on AI and long-term growth areas.

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