Pinterest has made a second job-cutting transfer inside weeks of the primary spherical of layoffs in December. The corporate has let go of just about 150 staff (representing lower than 5% of its workforce), in line with a report from Bloomberg.
In an announcement to TechCrunch, Pinterest confirmed the job axing however didn’t share how many individuals had been laid off and which departments had 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 an announcement. “ All the staff who had 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 corporations final month alone.
Earlier this week, Groupon additionally lower 500 staff in was additionally its second spherical of layoffs.
Pinterest’s layoff comes simply earlier than its This autumn 2022 earnings, which goes to be introduced on February 6. The corporate has had a 16% leap 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 give attention to different creator-focused initiatives. The identical month, it made its collage-making app Shuffles out there to everybody.