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

About 500 lost their jobs in 2023.

Dropbox is cutting its workforce by 20 percent today — laying off 528 people — amid slowing growth for its core cloud storage business. 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. Affected employees will get sixteen weeks of severance pay, equity, bonus plan lump sums, payouts of approved leave, and immigration consultation for those on work visas.

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