Dropbox plans to cut 16% of its workforce, or about 500 employees, as it deals with slowing growth, the online-storage company said Thursday.
Dropbox Inc. plans to cut 16% of its staff as it deals with slowing growth, the online-storage company announced Thursday. The cuts amount to roughly 500 employees.
“Part of this is due to the natural maturation... Dropbox Inc. plans to cut 16% of its staff as it deals with slowing growth, the online-storage company announced Thursday. The cuts amount to roughly 500 employees. “Part of this is due to the natural maturation of our existing businesses, but more recently, headwinds from the economic downturn have put pressure on our customers and, in turn, on our business,” he said. “As a result, some investments that used to deliver positive returns are no longer sustainable.”
Another reason for the move, “more consequentially,” he said, is that “the [artificial intelligence] era of computing has finally arrived.”
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