Pinterest lays off 150 employees in a second round of job cuts

Pinterest has made another round of job cuts just weeks after its first round of layoffs in December. The company has let go of almost 150 employees, which is less than 5% of its workforce, according to Bloomberg.

The company confirmed the job cuts in a statement to TechCrunch but declined to provide specific details about the number of employees affected or the departments that were impacted.

A company spokesperson said, “We’re making organizational changes to further set us up to deliver against our company priorities and our long-term strategy.” The spokesperson also assured that the company is committed to supporting the impacted employees with separation packages, benefits, and other services.

The latest job cuts come as many other tech companies have also trimmed their workforce, including Amazon, Microsoft, Google, and Spotify, among others.

Pinterest’s layoff announcement precedes its Q4 2022 earnings, which are set to be announced on February 6. Despite a 16% increase in its stock prices year-to-date, the company has seen a 2.3% dip in the last 12 months.

In November, Pinterest shut down its Creator Rewards program and made its collage-making app Shuffles available to everyone to better focus on other creator-focused projects.