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Story summary
- Pinterest, the image-sharing platform, plans to lay off less than 15% of its workforce and reallocate resources to AI-focused roles and products.
- About 700 employees will be affected, with completion by late September 2026 and pre-tax restructuring charges of $35 million to $45 million.
- Pinterest has launched Pinterest Assistant for shopping advice and will reinvest in key development areas.
- Pinterest shares have fallen 22% over the past three months.
