Dropbox is laying off around 500 employees, making up about 16 percent of the company’s entire workforce, according to their blog: https://blog.dropbox.com/topics/company/a-message-from-drew. In a memo to employees, Dropbox CEO Drew Houston attributes the layoffs to a rocky economy — but also says that the cuts will allow the company to build out its AI division. “In an ideal world, we’d simply shift people from one team to another. And we’ve done that wherever possible,” Houston writes.