Pinterest (PINS, Buy, $45 target) Quick Thoughts on Restructuring and Recent Ad Leadership Changes
Earlier today, PINS announced a reduction in force impacting less than 15% of the employee base, a related $35-$40M mostly cash restructuring charge, and the expectation for the RIF to be complete by the end of 3Q25.Separately, on January 20, PINS announced the hiring of Lee Brown as Chief Business Officer, which coincided with the exit of Chief Revenue Officer Bill Watkins.
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