![]() ![]() On the date of publication, Larry Ramer held long positions in GE and RIVN. Last June, former PayPal (NASDAQ:PYPL) COO Bill Ready became Pinterest’s CEO. Activist investors often push companies to cut costs. In 2022, activist investor Elliott Management obtained a 5% stake in PINS and a seat on its board. Pinterest’s Activist Investor and Its CEO While a number of companies outside of tech, including Goldman Sachs (NYSE:GS), Rivian (NASDAQ:RIVN), and General Electric (NYSE:GE) have carried out layoffs in recent months, weekly jobless claims have remained historically low so far this year. out of an estimated 159.6 million total positions in the U.S. Among the names in that category are Amazon (NASDAQ:AMZN), Meta (NASDAQ:META), Spotify (NYSE:SPOT), and Alphabet (NASDAQ:GOOG, NASDAQ:GOOGL).Īccording to one source, “We’ve now seen over 76,000 tech layoffs in 2023 so far.” There are reportedly about 12 million tech employees in the U.S. Other tech companies that thrived during the pandemic and have done less well in recent months have laid off many employees since late last year. Confirming the dismissals, a company spokeswoman said that they “further set us up to deliver against our company priorities and our long-term strategy.” Since December, the firm has eliminated roughly 150 jobs or less than 5% of its workforce, Bloomberg reported this morning. Pinterest appears to be in that category. In recent months, layoffs have been carried out by many tech companies that thrived during the pandemic and have been much less successful since fears about the coronavirus greatly eased. In total, the Pinterest layoffs affected roughly 150 of its workers. Part II Results of operations.For the second time since December, Pinterest (NYSE:PINS) laid off employees yesterday. Read moreįinancing activities Cash flows from. We generally determine standalone selling. ![]() Read moreīecause these estimates and judgments. Macroeconomic conditions, such as inflation. Read moreįor example, Adjusted EBITDA excludes. ![]() ![]() Research and development consists primarily. The following table presents a reconciliation of net income (loss), the most directly comparable financial measure calculated and presented in accordance with GAAP, to Adjusted EBITDA (in thousands): (1)Non-cash charitable contributions of $2.7 million were not excluded from Adjusted EBITDA for the year ended Decemas these were not material. The increase was primarily due to a 20% increase in average headcount, which drove higher personnel expenses, as well as a $20.3 million increase in share-based compensation expense primarily due to options and restricted stock awards granted to our new Chief Executive Officer, as well as higher allocated facilities, taxes and bad debt expenses offset by $45.3 million of non-cash charitable contributions made in 2021. We define Adjusted EBITDA as net income (loss) adjusted to exclude depreciation and amortization expense, share-based compensation expense, interest income, interest expense and other income (expense), net, provision for income taxes, non-cash charitable contributions, and for the third quarter of 2020, a one-time payment for the termination of a future lease contract. Sales and marketing consists primarily of personnel-related expense, including salaries, commissions, benefits and share-based compensation for our employees engaged in sales, sales support, marketing, and customer service functions, advertising and promotional expenditures, professional services, amortization of acquired intangible assets and allocated facilities and other supporting overhead costs. Other Inside Pinterest, Inc.'s 10-K Annual Report: ![]()
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