Overview
- Pinterest said two engineers wrote scripts that improperly accessed confidential data to identify and share names and locations of laid-off staff, violating policy.
- Bill Ready told employees the behavior crossed from debate into obstruction and said those working against the company’s direction should consider leaving.
- The company said it will not broadly disclose detailed layoff lists to protect affected employees, with smaller changes communicated at the team level.
- The restructuring will cut less than 15% of roles, reduce office space, and reallocate resources to AI projects, with completion targeted by Sept. 30.
- Shares fell nearly 6% on Wednesday, according to CoinCentral, as investors weighed the episode and Pinterest’s AI-focused strategy.