The Strategist

Dropbox will cut about 20 per cent of its staff



10/31/2024 - 10:12



The US-based company Dropbox Inc, known for the cloud storage service of the same name, intends to reduce its workforce by roughly 20%.



Ian Lamont via flickr
Ian Lamont via flickr
The company stated on the US Securities and Exchange Commission (SEC) website that the measures aim to reorganize the team structure to match long-term growth projects and profitability goals more effectively.

The layoffs are expected to cost between $63 million and $68 million.

At the conclusion of 2023, the corporation employed 2,693,000 individuals.

In the previous spring, the company revealed plans to let go of 500 workers (approximately 16% of its workforce back then) due to the onset of the 'era of artificial intelligence'.

source: ft.com




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