Pinterest lays off  about 150 employees

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Photo-sharing social media platform Pinterest is reportedly laying off about 150 employees amid cost-cutting measures.

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The move affected less than 5 per cent of Pinterest's total workers, reports Bloomberg, citing sources.

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"We're making organisational changes to further set us up to deliver against our company priorities and our long-term strategy," a Pinterest spokeswoman, was quoted as saying.

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The photo-sharing social media company had about 4,000 employees as of the end of the third quarter, said the report.

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Moreover, the report mentioned that the job cuts came from teams across the US-based company, though not all were affected to the same degree.

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With this, Pinterest joins other tech companies such as Amazon, Microsoft, Meta and Google parent Alphabet that have cut thousands of jobs.

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PayPal President and CEO Dan Schulman said that these job reductions will occur over the coming weeks, with some organisations impacted more than others.