Tag: Layoffs
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AI Causes Reduction in Workforce at Dropbox
Dropbox, a cloud storage service with over 500 million users worldwide, recently announced a second round of layoffs impacting 16% of its reduced workforce. CEO Drew Houston detailed severance packages and measures to shift workers to departments based on their skill sets. Their move has caused speculation around the future of AI-based layoffs in the age of technology.
Are Tech Salaries of $500,000+ at Risk? Analysis of Worker Anxiety
Are six-figure salaries a thing of the past in tech industry? Following the poll on Blind job platform, over 14,000 confirmed employees of Oracle, Amazon, and Twitter have shared their views. There are fears that salaries might drop due to talent surplus, AI, and layoffs. But some still believe that hefty salaries are still possible if companies can find the balance they need.
Layoff at Dropbox: Cloud Storage Giant Cuts 500 Employees to 16% of Total Staff Due To Subdued Progress
Dropbox, the cloud storage giant based in San Francisco, California announced layoffs of 500 employees on Thursday due to slowing growth amid the economic downturn caused by COVID-19. The employees receive compensation packages, company devices, mental health support and 6 months of COBRA. Dropbox, started in 2007 by co-founder and CEO Drew Houston, offers secure online storage as an alternative to physical servers and storage devices.
Dropbox Cuts 500 Jobs Amid Slowing Growth and Advancing AI Technology
Dropbox, the leading cloud-based storage and collaboration platform, announces layoffs of 500 global staff members, reducing workforce by 16 percent. With incoming 'AI era' of computing and due to impacts of Covid-19, CEO and co-founder, Drew Houston, stated that the company is taking steps to remain ahead of the curve and remain competitive in a rapidly changing environment. Results of this measure, estimated to incur costs between $37-($42 million) will be included in their upcoming Q1 results, reported on Thursday, May 4th.
Mark Zuckerberg Assures He Is Not Giving Up On Metaverse Despite Loss of $4 Billion in Company Division
Meta is pushing the boundaries of AR, VR and 3D tech with its ambitious projects. Despite facing a $4b loss in the first quarter, Mark Zuckerberg has confirmed the company's commitment in building the metaverse. So, come and explore the world of AI-powered metaverse of Meta and discover its limitless potential.