Friday, 28 April, 2023

Dropbox Lays Off 16% Of Staff, CEO Says Due To Slowing Growth And The Era Of AI

Dropbox has laid off 500 employees, which is 16% of its workforce, due to slow growth and the rise of AI technology. Dropbox CEO, Drew Houston, cited the need to become a more efficient and nimble organization in order to remain competitive in the rapidly changing landscape of cloud computing. The company's revenue growth rate has been slowing down in recent years, and Houston believes that investing in AI and other emerging tech will be crucial to its future success.