Pinterest Inc. is laying off about 150 employees. This is the latest technology company to cut costs during turbulent times in an industry that has expanded rapidly over the past few years.
A digital search company that lets users create online pinboards hit employees Wednesday. The move affected less than 5% of all Pinterest employees, according to a person familiar with the company, who asked not to be identified because details weren’t released. At the end of the third quarter, Pinterest had approximately 4,000 employees. The layoffs came from teams across the San Francisco-based company, but not all were affected to the same extent.