Pinterest layoffs today: 15% of jobs cut as social media giant is latest to cite shift to AI

The platform’s stock price plummeted by more than 8% after news of the reduction in workforce. Nike isn’t the only household corporate name to announce significant layoffs this week. Just a day after the sporting goods giant announced layoffs, citing a further embrace of automation, social media giant Pinterest has announced it will cut jobs. The driving factor here? Artificial intelligence.