Pinterest Bows Down To Macro Uncertainties; Lets Go Of 150 Workers

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  • Pinterest, Inc PINS laid off about 150 employees to contain costs amid macro headwinds.
  • The move affected less than 5% of Pinterest’s total workers, Bloomberg reports.
  • Pinterest had about 4,000 employees as of the end of the third quarter. 
  • The job cuts came from teams across the San Francisco-based digital search company.
  • Amazon.com Inc AMZNMicrosoft Corp MSFTMeta Platforms Inc META, and Google parent Alphabet Inc GOOG GOOGL downsized in the thousands due to business slowdown further perpetrated by macro uncertainties
  • Activist investors from Elliott Management had recently targeted Pinterest.
  • Price Action: PINS shares closed higher by 5.47% at $28.16 premarket on the last check Thursday.
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