Dropbox to Cut 16% of Workforce
Dropbox Inc. will cut 500 jobs, about 16% of its workforce, amid slowing growth and an industrywide push toward artificial intelligence.
Chief Executive Drew Houston said in a letter to staff that while Dropbox remains profitable, headwinds from a downturn in the economy have put pressure on the business and made some of its investments unsustainable.
Dropbox Inc. will cut 500 jobs, about 16% of its workforce, amid slowing growth and an industrywide push toward artificial intelligence.
Chief Executive Drew Houston said in a letter to staff that while Dropbox remains profitable, headwinds from a downturn in the economy have put pressure on the business and made some of its investments unsustainable.
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