New Delhi: Cloud storage large Dropbox introduced on Thursday that it’s shedding 16 per cent of its workforce, or about 500 staff, on account of slowing development.
Dropbox CEO Drew Houston stated that he takes full possession of this choice.
“If you’ve been impacted, you’ll be sent a calendar invitation for a one-on-one with a leader on your team and a member of the People team to go through details of your departure, package, and to ask any questions you may have,” he knowledgeable.
Houston stated that whereas the enterprise is worthwhile, “our growth has been slowing”.
“Part of this is due to the natural maturation of our existing businesses, but more recently, headwinds from the economic downturn have put pressure on our customers and, in turn, on our business,” he stated.
As a outcome, some investments that used to ship optimistic returns are not sustainable, the corporate knowledgeable.
In January 2021, Dropbox had laid off 315 staff amid the Covid-19 pandemic.
The impacted staff can be eligible for 16 weeks of pay, with one extra week of pay for every accomplished 12 months of tenure at Dropbox.
“All impacted employees will receive their Q2 equity vest. All employees will be eligible for up to six months of COBRA in the US, and similar equivalents where applicable internationally, as well as Modern Health support,” stated the corporate.
The impacted staff can be eligible to maintain firm units (telephones, tablets, laptops, and peripherals) for private use.
“These transitions are never easy, but I’m determined to ensure that Dropbox is at the forefront of the AI era, just as we were at the forefront of the shift to mobile and the cloud. We’ll need all hands on deck as machine intelligence gives us the tools to reimagine our existing businesses and invent new ones,” the CEO stated.
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