Pinterest has joined the list of social media companies that have let go of workers. Last week, the company cut jobs in its recruiting team and decided to slow down its hiring for the rest of the year, The Information was first to report.
A Pinterest spokesperson declined to confirm details on how many people have left the company, which employed 3,975 people in October. The cuts, which were limited to recruiting, appear much more narrow than the mass layoffs at competitors like Snap and Meta Platforms. Still, they are another indication of belt-tightening at the $16 billion market-cap company, which in June installed a new CEO, ex-Google exec Bill Ready, and counts activist hedge fund Elliott Management as a major investor. Last week Kaya reported Pinterest is ending its Creator Rewards programs.
