Pinterest eliminates 150 users as part of its “long-term strategy’

Pinterest has announced a second job-cutting decision within a few two weeks of the first round of layoffs announced in December. The company has laid off of more than 150 people (representing less than five percent from its total workforce) According to a report by Bloomberg.

In a statement made to TechCrunch, Pinterest confirmed the job elimination, but did not provide the number of people affected and which departments were affected. The company also did not offer any details on what conditions it’s offering in terms of severance for employees who leave the company.

“We’re making organizational changes to further set us up to deliver against our company priorities and our long-term strategy,” a spokesperson for the company stated in an announcement. ” 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.”

Jobs cuts have been afoot since 2023, with hundreds of thousands of positions being eliminated from Amazon, Microsoft, Google and Spotify along with other companies this month.

Read More : How is Pinterest doing in terms of getting advertising traction?

This week Groupon also cut the number of employees to 500. It was also the 2nd round of laid-offs.

The layoff of Pinterest comes just prior to its Q4 2022 results that are scheduled to be revealed on the 6th of February. The company has seen an increase of 16% in its share prices over the past year but only a 2.3 percent drop in the past twelve months.

On November 1, Pinterest closed down its “Creator Rewards” program to concentrate its attention on its other creative projects. In the following month, the company also made its collage-making application Shuffles open to all.