- Pinterest, Inc PINS laid off about 150 employees to contain costs amid macro headwinds.
- The move affected less than 5% of Pinterest’s total workers, Bloomberg reports.
- Pinterest had about 4,000 employees as of the end of the third quarter.
- The job cuts came from teams across the San Francisco-based digital search company.
- Amazon.com Inc AMZN, Microsoft Corp MSFT, Meta Platforms Inc META, and Google parent Alphabet Inc GOOG GOOGL downsized in the thousands due to business slowdown further perpetrated by macro uncertainties.
- Activist investors from Elliott Management had recently targeted Pinterest.
- Price Action: PINS shares closed higher by 5.47% at $28.16 premarket on the last check Thursday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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