---
schema_version: "secwatch.filing_event.v1"
accession: "0001506293-23-000050"
form_type: "8-K"
ticker: "PINS"
cik: "0001506293"
company_name: "PINTEREST, INC."
filed_at: "2023-03-27T23:59:59+00:00"
generated_at: "2026-06-17T14:46:11.822859+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Pinterest approves $100-125M restructuring plan with office sublease and 4% workforce reduction

## Summary
- Estimated charges of $100-$125M, primarily non-cash impairment and abandonment of lease assets ($95-$110M).
- Approximately $95-$115M of charges expected in Q1 2023; cash expenditures only $2-$4M.
- Subleasing 505 Brannan St and abandoning other offices; cease occupancy by end of Q1 2023.
- Workforce reduction of about 4% commenced in February 2023 as part of the plan.
- Future cash impact depends on landlord negotiations and subtenant outcomes; additional actions possible.

## SEC filing metadata
- accession: 0001506293-23-000050
- form_type: 8-K
- ticker: PINS
- cik: 0001506293
- company_name: PINTEREST, INC.
- filed_at: 2023-03-27T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.05, 2.06
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1506293/000150629323000050/0001506293-23-000050-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1506293/000150629323000050/pins-20230324.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001506293-23-000050
- JSON: https://secwatch.observer/filing/0001506293-23-000050.json
- Plain text: https://secwatch.observer/filing/0001506293-23-000050.txt

## Key facts
- Restructurings & Charges
  PINTEREST, INC. announced a restructuring with charges of estimated $100.0 million to $125.0 million in charges, consisting primarily of $95.0 million to $110.0 million in non-cash impairment and abandonment charges re affecting office space reductions at 505 Brannan Street and other locations, and workforce reduction of approximately 4% (approximately 4% workforce reduction).
  - Type: restructuring
  - Charge: estimated $100.0 million to $125.0 million in charges, consisting primarily of $95.0 million to $110.0 million in non-cash impairment and abandonment charges re
  - Affected area: office space reductions at 505 Brannan Street and other locations, and workforce reduction of approximately 4%
  - Headcount: approximately 4% workforce reduction
  source text: cost structure and operating plan and may determine to take additional actions in the future in connection with the Plan. The Company estimates that it will incur approximately $100.0 million to $125.0 million in charges in connection with the Plan. These charges consist primarily of $95.0 million to $110.0 million in non-cash impairment and abandonment charges
  evidence_url: https://www.sec.gov/Archives/edgar/data/1506293/000150629323000050/0001506293-23-000050-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.