• by Colin Kirkland , 3 hours ago

Pinterest issued a securities filing on Monday announcing a global restructuring plan centered around the reallocation of resources to further AI adoption. The plan is expected to result in the loss of around 15% of the social media company’s workforce. 

According to the document, Pinterest has decided to invest more heavily in artificial intelligence, including “AI-focused roles and teams that drive AI adoption and execution,” while “prioritizing AI-powered products and capabilities.”

Cutting 15% of its workforce will result in the loss of approximately 675 jobs. The company expects to complete its restructuring plan by the end of its third quarter in September of this year.

“We are making organizational changes to further deliver on our AI-forward strategy, which includes hiring AI-proficient talent,” a Pinterest spokesperson said in a statement. “As a result, we've made the difficult decision to say goodbye to some of our team members.”

Over the past year, Pinterest has built out its collection of AI tools for creators and advertisers, including its “Pinterest Assistant” shopping tool and AI-powered product recommendation offering, which have helped the company grow its ad business and reputation as a shopping discovery platform. 

However, Pinterest has also developed a reputation for being overrun with “AI slop,” causing users to complain about low-quality AI-generated spam content plaguing their feeds. As a result of AI slop and lower third-quarter earnings than expected, Pinterest’s shares fell 20% in November. 

Increased adoption of AI has accounted for the loss of almost 55,000 jobs in the U.S. this year, according to consulting firm Challenger, Gray & Christmas.