Pinterest just cut another 150 employees

It seems like everywhere you look these days there are layoffs, and Pinterest is no exception.

Just weeks after laying off an undisclosed number of people from its recruiting team, the platform has cut a further 150 employees. Pinterest had 4,000 employees at the end of Q3 2022, so this layoff is impacting around 3.75% of its staff.

According to Bloomberg, employees were let go across various divisions of Pinterest, though a person familiar with the matter specified that not all teams “were affected to the same degree.”

Pinterest confirmed to Bloomberg that cuts were made, but did not disclose specifics.

“We’re making organizational changes to further set us up to deliver against our company priorities and our long-term strategy,” a company spokesperson said. “Our employees are the heart of how we’re able to serve our Pinners around the world. 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.”

Though, like we said, layoffs seem to be happening virtually everywhere across the digital and tech spaces, this is not the first sign of trouble for Pinterest. Back in December, it announced it had “entered into a long-term cooperation agreement” with activist investment firm Elliott Investment Management.

That’s the same firm that stepped in with Twitter in 2020 and almost ousted Jack Dorsey.

As a result of the “long-term cooperation agreement,” one of Elliot’s senior portfolio managers, Marc Steinberg, joined Pinterest’s board.