Pinterest drops 10% after 15% layoffs; $35–$45M charges, done by late September

Pinterest shares fell more than 10% after the company said it will cut nearly 15% of its workforce and reduce real estate. The reductions, estimated at about 600 to 675 roles, are slated to finish by late September with expected pre-tax restructuring charges of $35 to $45 million. The firm is reallocating resources toward AI-led products and automated ads.