Pinterest is conducting a massive round of layoffs to prioritize 'AI-powered products and capabilities'

Pinterest is planning on laying off up to 15 percent of its workforce, according to a report by CNBC. The company has been posting stellar earnings reports these past few quarters, so why punish employees? You already know the answer. It's AI.

The company said it's "reallocating resources" to AI projects and prioritizing "AI-powered products and capabilities." It's also cutting down on office space, presumably because AI algorithms don't require cubicles and the occasional low-grade snack.

Pinterest noted in a recent security filing that it expects these cuts to the workforce will be complete by the end of the third quarter in September. The company had 4,500 global employees as of April, so the layoffs should impact up to 675 people.

It will also be reshaping its sales and marketing strategies, likely to highlight new AI initiatives. To that end, Pinterest introduced ...