The firm owned 77,922 shares of the company’s stock after selling 2,525 shares during the period. ( NASDAQ:DBX – Get Rating) by 3.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. 'We’ll need all hands on deck as machine intelligence gives us the tools to reimagine our existing businesses and invent new ones.'įind more updates on this story at State Retirement System decreased its stake in Dropbox, Inc. '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,' Houston wrote. RELATED: Tech layoffs, high interest rates are having ‘serious impact’ on how people buy homesĭropbox will also allow employees to keep company devices for personal use and provide job placement services. All impacted employees will also have their Q2 equity vested as well.įurthermore, the company said impacted employees will be eligible for up to six months of COBRA or equivalent programs internationally. 'However, our next stage of growth requires a different mix of skill sets, particularly in AI and early-stage product development.'ĪMAZON BEGINS JOB CUTS IN HR, CLOUD COMPUTING DIVISIONSĭropbox's employees impacted by the layoffs will be eligible for 16 weeks of pay, with one additional week of pay for each completed year of tenure at Dropbox.

And we’ve done that wherever possible,' Houston wrote. 'In an ideal world, we’d simply shift people from one team to another. (Photo Illustration by Rafael Henrique/SOPA Images/LightRocket via Getty Images) In this photo illustration a Dropbox logo seen displayed on a smartphone.

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