Corporate Layoffs and AI Automation

Pinterest said in a new SEC filing Tuesday that it will cut “less than 15%” of its roughly 4,666 employees and shed office space through a restructuring aimed at freeing cash for artificial‑intelligence investments. The San Francisco‑based social platform, which lets users save and shop for recipes, decor and other content, said it will redirect spending toward AI‑focused roles and teams, AI‑powered products, and more automated sales operations. The plan, expected to be completed by September 30, 2026, will incur an estimated $35 million to $45 million in pre‑tax charges for severance and related costs. A company spokesperson framed the move as part of an "AI‑forward strategy" that requires hiring "AI‑proficient talent" even as Pinterest lets existing staff go. The announcement comes amid a wider wave of U.S. companies, including Nike, citing automation and AI as reasons for recent layoffs, fueling public debate over how quickly white‑collar work is being reshaped by generative AI tools.