Dropbox announced Thursday that it will lay off 500 employees and shrink its workforce by 16% as the cloud storage firm deals with slow growth and looks to emphasize AI.
joined the growing ranks of tech companies announcing layoffs as it said Thursday it will cut 500 jobs, shrinking its workforce by about 16%.
"In an ideal world, we’d simply shift people from one team to another. And we’ve done that wherever possible," Houston wrote. "However, our next stage of growth requires a different mix of skill sets, particularly in AI and early-stage product development."
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