It seems like everywhere you look these days there are layoffs, and Pinterest is no exception.
Just weeks after laying off an undisclosed number of people from its recruiting team, the platform has cut a further 150 employees. Pinterest had 4,000 employees at the end of Q3 2022, so this layoff is impacting around 3.75 of its staff.
According to Bloomberg, employees were let go across various divisions of Pinterest, though a person familiar with the matter specified that not all teams “were affected to the same degree.”
Pinterest confirmed to Bloomberg that cuts were made, but did not disclose specifics.
“We’re making organizational changes to further set us up to deliver against our company priorities and our long-term strategy,” a company spokesperson said. “Our employees are the heart of how we’re able to serve our Pinners around the world. All of the employees who were impacted contributed to Pinterest and as they transition,...
Just weeks after laying off an undisclosed number of people from its recruiting team, the platform has cut a further 150 employees. Pinterest had 4,000 employees at the end of Q3 2022, so this layoff is impacting around 3.75 of its staff.
According to Bloomberg, employees were let go across various divisions of Pinterest, though a person familiar with the matter specified that not all teams “were affected to the same degree.”
Pinterest confirmed to Bloomberg that cuts were made, but did not disclose specifics.
“We’re making organizational changes to further set us up to deliver against our company priorities and our long-term strategy,” a company spokesperson said. “Our employees are the heart of how we’re able to serve our Pinners around the world. All of the employees who were impacted contributed to Pinterest and as they transition,...
- 2/2/2023
- by James Hale
- Tubefilter.com
Click here to read the full article.
The social photo platform Pinterest got a new CEO a month ago, and now it has a new largest shareholder.
Elliott Management, the investment firm known for its activism, disclosed on Monday that it is now the company’s largest individual shareholder, citing its “highly strategic business with significant potential for growth.”
Pinterest shares soared more than 12 percent when the market opened Tuesday on the news.
In a statement, Elliott executives Jesse Cohn and Marc Steinberg suggested that it had thrown its full support behind Bill Ready, who joined the company at the end of June, with co-founder and CEO Ben Silbermann moving to an executive chairman role.
“As the market-leading platform at the intersection of social media, search and commerce, Pinterest occupies a unique position in the advertising and shopping ecosystems, and CEO Bill Ready is the right leader to oversee Pinterest’s next phase of growth,...
The social photo platform Pinterest got a new CEO a month ago, and now it has a new largest shareholder.
Elliott Management, the investment firm known for its activism, disclosed on Monday that it is now the company’s largest individual shareholder, citing its “highly strategic business with significant potential for growth.”
Pinterest shares soared more than 12 percent when the market opened Tuesday on the news.
In a statement, Elliott executives Jesse Cohn and Marc Steinberg suggested that it had thrown its full support behind Bill Ready, who joined the company at the end of June, with co-founder and CEO Ben Silbermann moving to an executive chairman role.
“As the market-leading platform at the intersection of social media, search and commerce, Pinterest occupies a unique position in the advertising and shopping ecosystems, and CEO Bill Ready is the right leader to oversee Pinterest’s next phase of growth,...
- 8/2/2022
- by Alex Weprin
- The Hollywood Reporter - Movie News
TV ratings giant Nielsen is to be acquired by private equity consortium Evergreen Coast Capital Corporation and Brookfield Business Partners in a deal valued at around $16Bn.
The Nielsen Board of Directors voted unanimously to support the acquisition proposal, which represents a 10% premium over the Consortium’s previous proposal and a 60% premium over Nielsen’s unaffected stock price.
The Board said it reached the determination following a comprehensive review of the proposal, with the assistance of independent financial and legal advisors.
“After a thorough assessment, the Board determined that this transaction represents an attractive outcome for our shareholders by providing a cash takeout at a substantial premium, while supporting Nielsen’s commitment to our clients, employees and stakeholders,” said James A. Attwood, who chairs the board.
On behalf of Evergreen and owner Elliott Investment Management, Managing Partner Jesse Cohn and Senior Portfolio Manager Marc Steinberg said: “Having first invested in Nielsen nearly four years ago,...
The Nielsen Board of Directors voted unanimously to support the acquisition proposal, which represents a 10% premium over the Consortium’s previous proposal and a 60% premium over Nielsen’s unaffected stock price.
The Board said it reached the determination following a comprehensive review of the proposal, with the assistance of independent financial and legal advisors.
“After a thorough assessment, the Board determined that this transaction represents an attractive outcome for our shareholders by providing a cash takeout at a substantial premium, while supporting Nielsen’s commitment to our clients, employees and stakeholders,” said James A. Attwood, who chairs the board.
On behalf of Evergreen and owner Elliott Investment Management, Managing Partner Jesse Cohn and Senior Portfolio Manager Marc Steinberg said: “Having first invested in Nielsen nearly four years ago,...
- 3/29/2022
- by Max Goldbart
- Deadline Film + TV
Media-measurement mainstay Nielsen said it had agreed to be acquired by a private-equity group for $16 billion after holding out for a higher price than a previous bid.
Nielsen said Tuesday that it would be purchased by a group led by Evergreen Coast Capital Corporation, an affiliate of activist fund Elliott Investment Management L.P., which has been lobbying for a Nielsen sale, and Brookfield Business Partners L.P., in a deal that calls for an all-cash deal of for $28 per share, or $16 billion, including the assumption of debt. Nielsen had previously blocked a sale, saying it did not value the company’s growth prospects properly.
The sale takes place with Nielsen under the media industry’s microscope. TV networks and their owners have grown disenchanted with Nielsen’s ability to count viewers who may watch their favorite programs via digital means, on mobile screens on through streaming video. Nielsen has...
Nielsen said Tuesday that it would be purchased by a group led by Evergreen Coast Capital Corporation, an affiliate of activist fund Elliott Investment Management L.P., which has been lobbying for a Nielsen sale, and Brookfield Business Partners L.P., in a deal that calls for an all-cash deal of for $28 per share, or $16 billion, including the assumption of debt. Nielsen had previously blocked a sale, saying it did not value the company’s growth prospects properly.
The sale takes place with Nielsen under the media industry’s microscope. TV networks and their owners have grown disenchanted with Nielsen’s ability to count viewers who may watch their favorite programs via digital means, on mobile screens on through streaming video. Nielsen has...
- 3/29/2022
- by Brian Steinberg
- Variety Film + TV
Activist hedge fund Elliott Management, which has agitated for major changes at AT&T, has responded favorably to the telecom and media giant’s three-year financial and strategic plan.
The plan, unveiled Monday along with AT&T’s third-quarter earnings, includes several provisions called for by Elliott, which has accumulated a roughly 1% stake in the company.
Elliott Partner Jesse Cohn and Associate Portfolio Manager Marc Steinberg issued a statement commending Stephenson, Lead Director Matt Rose and the entire board and management team. The pair described the plan as the result of “creative collaboration” between Elliott and AT&T.
“We commend AT&T for the positive steps announced today, which will create substantial and enduring shareholder value at one of America’s greatest companies,” the statement said. “We have worked closely and collaboratively with management and the Board on the initiatives announced today. It is clear to us that AT&T is...
The plan, unveiled Monday along with AT&T’s third-quarter earnings, includes several provisions called for by Elliott, which has accumulated a roughly 1% stake in the company.
Elliott Partner Jesse Cohn and Associate Portfolio Manager Marc Steinberg issued a statement commending Stephenson, Lead Director Matt Rose and the entire board and management team. The pair described the plan as the result of “creative collaboration” between Elliott and AT&T.
“We commend AT&T for the positive steps announced today, which will create substantial and enduring shareholder value at one of America’s greatest companies,” the statement said. “We have worked closely and collaboratively with management and the Board on the initiatives announced today. It is clear to us that AT&T is...
- 10/28/2019
- by Dade Hayes
- Deadline Film + TV
Elliott Management Corporation, which said that it now manages $3.2 billion worth of AT&T shares, wrote a lengthy letter to the telecom and media giant’s board of directors on Monday outlining what Elliott called AT&T’s “long-term underperformance.”
“AT&T’s shareholder returns have been disappointing over a prolonged period,” the investor wrote. The letter pointed to acquisitions that haven’t panned out, missed opportunities, operational inefficiencies and AT&T’s “poor execution in wireless.”
Signed by partner Jesse Cohn and Elliott’s Associate Portfolio Manager Marc Steinberg, the detailed memo called out the telecom company for its poor performance in wireless and what they believe are bad purchases of non-core assets, namely DirecTV, that have dragged down the overall business.
Also Read: HBO Max Streaming Service Will Include Live Programming, AT&T Boss Randall Stephenson Says
In a statement later on Monday, AT&T responded: “Our management team...
“AT&T’s shareholder returns have been disappointing over a prolonged period,” the investor wrote. The letter pointed to acquisitions that haven’t panned out, missed opportunities, operational inefficiencies and AT&T’s “poor execution in wireless.”
Signed by partner Jesse Cohn and Elliott’s Associate Portfolio Manager Marc Steinberg, the detailed memo called out the telecom company for its poor performance in wireless and what they believe are bad purchases of non-core assets, namely DirecTV, that have dragged down the overall business.
Also Read: HBO Max Streaming Service Will Include Live Programming, AT&T Boss Randall Stephenson Says
In a statement later on Monday, AT&T responded: “Our management team...
- 9/9/2019
- by Tony Maglio and Tim Baysinger
- The Wrap
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