Pinterest plans to lay off less than 15% of its workforce as part of a shift towards artificial intelligence. The company announced this decision in a securities filing, stating that the layoffs would be completed by the end of the third quarter, around late September. Following the news, Pinterest’s stock fell more than 9%. The restructuring is expected to incur pre-tax charges between $35 million and $45 million. With over 4,500 global employees as of April, Pinterest aims to reallocate resources to teams focused on AI and enhance its product offerings. The company has introduced features like the "Pinterest Assistant" shopping tool and automated advertising solutions to stay competitive against platforms such as TikTok and Meta’s Facebook and Instagram. CEO Bill Ready claimed that investments in AI have positioned Pinterest as a leader in visual search and as an AI-powered shopping assistant for its 600 million users. The trend isn’t unique to Pinterest. AI-related layoffs accounted for nearly 55,000 job cuts in the U.S. last year, according to consulting firm Challenger, Gray & Christmas. However, some experts argue that companies might be using AI as a scapegoat for broader cost-cutting measures, suggesting that not all layoffs can be attributed directly to advancements in technology.