Shulou(Shulou.com)11/24 Report--

On the afternoon of December 6, Beijing time, a spokesman for Pinterest, an American photo social networking company, said that the company will slow down recruitment for the rest of the year, and the company has laid off staff within its recruitment team, and some employees have been laid off, the exact proportion of which has not been disclosed.

A spokesman for Tuyuan PexelsPinterest said: "the recruitment work this year has been basically completed, and our company already has a strong talent reserve. With the reduced demand for recruitment support, we have made a difficult decision to reduce the size of the recruitment team."

As of October this year, Pinterest had a total of 3975 employees. The layoffs do not seem to be as large as those of social media giants such as Meta Platforms, Twitter and Snap.

Pinterest's revenue and user growth slowed in the third quarter, but the company had revenue of $685 million, up 8% year-on-year and low growth innovation, but did not see a year-on-year decline in revenue like social media companies such as Meta. Its global user growth remained steady, while the number of users from North America, which accounts for most of its revenue, fell 2 per cent to 95 million.

Pinterest's shares have risen more than 25% in the past six months and are down 34% so far this year, well below the declines of Snap and Meta. In August, activist investor Elliott Management said it had become the largest shareholder in Pinterest. During this period, Pinterest also cut some incentives for creators.

Last week, it was reported that Pinterest had ended its creator incentive program, which offers cash rewards to creators who meet certain participation indicators.

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