Pinterest, Inc. (PINS), the image-focused social media platform, saw its shares decline by 1.5% in early trading on Wednesday. Following a workforce reduction of less than 15%, the company dismissed engineers who developed a script to identify affected employees, citing violations of corporate policy and privacy regulations. The termination was based on the employees writing scripts to access internal company information to view the recent layoff list.

On January 27, Pinterest announced its layoff plan. In an internal email, CEO Bill Ready stated the company would "double down on our AI-first strategy."

According to information disclosed to investors, this round of layoffs will impact approximately 15% of the workforce, affecting nearly 700 positions. The company did not specify which employees or teams would be adjusted.