2/2, 12:56 PM (Source: TeleTrader)
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Pinterest jumps 5% in premarket after layoffs report

Shares of Pinterest Inc jumped 5% in Thursday's premarket session after investors learned of the company's plans to lay off about 150 workers.

"We're making organizational changes to further set us up to deliver against our company priorities and our long-term strategy," a Pinterest spokesperson said in an email to MarketWatch. The cuts will affect less than 5% of Pinterest's workforce and occurred across several teams.

At 6:53 am ET, Pinterest shares were up 5.28% to sell at $28.11.

Baha Breaking News (BBN) / JG