Pinterest to reduce office space as part of restructuring | – #Pinterest #reduce #office #space #part #restructuring
March 27 (Reuters) – Pinterest Inc ( PINS.N ) will stop leasing certain office space as part of a restructuring plan, the image-sharing platform said on Monday, in addition to about 4% of its workforce it started cutting last month.
From technology to finance USA companies have ramped up cost-cutting as they prepare for a potential recession.
Pinterest, of accusations related to the restructuring plan 10He said he expects it to be between $0 million and $125 million.
The reduction of office space is expected to be completed in 2023.
At the end of last year, Pinterest had about 4,000 employees. In February, Bloomberg News reported that Pinterest was laying off about 150 employees.
Reporting by Raghav Mahobe in Bengaluru; Edited by Shilpi Majumdar
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Source – reuters