Pinterest has made a second job-cutting transfer inside weeks of the primary spherical of layoffs in December. The corporate has let go of virtually 150 staff (representing lower than 5% of its workforce), based on a report from Bloomberg.
In a press release to TechCrunch, Pinterest confirmed the job axing however didn’t share how many individuals have been laid off and which departments have been impacted. The corporate additionally didn’t present any details about what sort of severance phrases it’s providing to departed staff.
“We’re making organizational adjustments to additional set us as much as ship in opposition to our firm priorities and our long-term technique,” an organization spokesperson stated in a press release. “ All the staff who have been impacted contributed to Pinterest and as they transition, we’re dedicated to supporting them with separation packages, advantages, and different companies.”
Job cuts have bled into 2023 with tens of hundreds of roles eradicated by Amazon, Microsoft, Google and Spotify amongst different firms final month alone.
Earlier this week, Groupon additionally minimize 500 staff in was additionally its second spherical of layoffs.
Pinterest’s layoff comes simply earlier than its This fall 2022 earnings, which goes to be introduced on February 6. The corporate has had a 16% bounce in its inventory costs year-to-date however a 2.3% dip within the final 12 months.
In November, Pinterest shut down its ‘Creator Rewards’ program to higher deal with different creator-focused initiatives. The identical month, it made its collage-making app Shuffles accessible to everybody.
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