Connect with us

Hi, what are you looking for?

Webinar News NetworkWebinar News Network

Tech News

Dropbox cuts its workforce by 20 percent in latest round of layoffs

blue dropbox logo
Image: Dropbox

Dropbox is cutting its workforce by 20 percent today — laying off 528 people — amid slowing growth for its core cloud storage business. The latest round of cuts comes after Dropbox laid off around 500 people in early 2023 to redirect efforts to its AI division.

“We’re making more significant cuts in areas where we’re over-invested or underperforming while designing a flatter, more efficient team structure overall,” writes Dropbox CEO Drew Houston in a blog post titled An update from Drew. At the same time, Houston mentions that the market is moving towards where the company placed its “biggest bets,” which includes Dropbox’s Dash AI search product.

For its second-quarter earnings this year in August, Dropbox reported an increase of…

Continue reading…

You May Also Like

Politics

With the 2024 U.S. election around the corner, celebrities have been stepping forward to publicly endorse either Vice President Kamala Harris or former President...

Editor's Pick

Jeffrey Miron The standard argument for scope-of-practice (SOP) laws—and more generally, for occupational licensing—is that such regulation improves the quality of services by keeping...

Politics

Gov. Tim Walz, D-Minn., blasted billionaire X and Tesla CEO Elon Musk, calling him a ‘dips—‘ during a rally in swing state Wisconsin on...

Editor's Pick

Alex Nowrasteh Steven Malanga, a senior fellow at the Manhattan Institute and a senior editor of City Journal, argues that there is a crime...