Pinterest Stock Gaps Lower After AI-Driven Layoffs
The social media platform expects to lay off about 15% of its workforcePinterest Inc (NYSE:PINS) shares are down 7.5% to trade at $23.97 at last glance, after the social media platform announced, in a securities filing, plans to lay off about 15% of its workforce to allocate resources to roles and teams focused on artificial intelligence. The company will also cut back on office space, with changes expected to go into effect in the third quarter.PINS is on track for its worst day since November, as it trade ...