2023-04-27 17:00:00
Dropbox will lay off about 500 employees, making up about 16 percent of the company’s total workforce. In a note to employees, the company’s CEO, Drew Houston, attributes the layoffs to the struggling economy, but also adds that the cuts will allow the company to build out its own artificial intelligence division.
As part of this change, Houston says the company will consolidate the businesses of some core divisions, and he is also making adjustments to product development teams. Houston added that the company is still profitable despite tough economic times and that the job cuts are part of the “natural maturity” of the company’s business.
Houston notes, “The changes we’re announcing today, while painful, are essential to our future. I’m determined to ensure that Dropbox is at the forefront of the AI age, just as we’ve been at the forefront of the shift to mobile and cloud services. We’ll need To all hands-on experiences because AI gives us the tools to reimagine our existing businesses and innovate new ones.”
It should be noted that affected employees will be able to receive at least 16 weeks of salary, up to six months of healthcare, and the ability to keep company devices for personal use. They will also receive vocational training and employment support.
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