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These actions are meant to support major transformation efforts, such as reallocating resources to AI experts and teams working on AI development and application, as well as focusing on AI-related products and features.
The company plans to finalize these changes by the end of September.
Alongside this, the company will redirect funds into key development areas and strategic opportunities, and it will account for pre-tax restructuring costs between $35 million and $45 million, which will not be factored into adjusted financial results.
Last April, Pinterest had over 4,500 employees.
On Tuesday, the company's stock declined by 3.2% during early trading.
source: bloomberg.com
The company plans to finalize these changes by the end of September.
Alongside this, the company will redirect funds into key development areas and strategic opportunities, and it will account for pre-tax restructuring costs between $35 million and $45 million, which will not be factored into adjusted financial results.
Last April, Pinterest had over 4,500 employees.
On Tuesday, the company's stock declined by 3.2% during early trading.
source: bloomberg.com