Cloud storage company Dropbox has announced a 20% cut to its total workforce which will result in around 528 job losses globally.
It is not yet known how the cuts will impact the firm's Irish operation.
The company employs more than 2,600 people globally and while it does not provide an exact regional breakdown, Dropbox has previously said that it employs hundreds of people in Ireland across areas such as sales, marketing, legal, engineering and finance.
The company's international headquarters are in Dublin.
In a memo to employees today, Dropbox CEO and co-founder Drew Houston said the company is in a transitional period as it builds its next phase of growth.
"However, navigating this transition while maintaining our current structure and investment levels is no longer sustainable," Mr Houston wrote.
He told staff that the business is facing softening demand and an organisational structure that has become overly complex, with excess layers of management.
"So we're making more significant cuts in areas where we're over-invested or underperforming while designing a flatter, more efficient team structure overall," he wrote.
"Internationally, severance packages will vary depending on regional practices and statutory requirements," he added.
Mr Houston visited Dropbox's international headquarters in Dublin in November 2022.
At the time, he described the current tech environment as tough and challenging but said his own business remained stable and resilient.
