Dropbox CEO: Stay safe at the forefront of the AI era

Dropbox CEO: Stay safe at the forefront of the AI era

San Francisco, 4/28/2023

Dropbox wants to develop new AI projects. New talents are hired for this. These restructurings will lay off 16% of the workforce worldwide.

Dropbox CEO Drew Houston pointed out that the downsizing was due to a slowdown in cloud growth and the dawn of the „AI age of computing.“ Although Dropbox is profitable, the competition is forcing us to act preventively, reducing the workforce so that we can invest in new growth areas such as AI. „I’m committed to ensuring that Dropbox is at the forefront of the AI era, just as we were at the forefront of the move to mobile and the cloud,“ Houston said. „We will need all hands on deck as machine intelligence gives us the tools to rethink our existing businesses and invent new ones.“

The announcement marks the company’s first mass downsizing since January 2021, when 315 employees were laid off. Dropbox is expected to incur costs of between $37 million and $42 million related to the downsizing. At the end of 2022, Dropbox had 3,118 full-time employees worldwide, including 2,583 in the US.