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Dropbox, which offers cloud-based serviceswith his statement will lay off 20% of its workforce announced. CEO Drew Houston stated that this decision is part of a “transition period”
Dropbox, which offers cloud-based serviceswith his statement will lay off 20% of its workforce announced. CEO Drew Houston stated that this decision is part of a “transition period” process.
In the letter he sent to employees, Houston stated that in total 528 people will be laid off he declared.
He stressed that the aim of the decision was to create a “more efficient” structure by cutting back on areas where the company has “overinvested”. In addition, 63 to 63 percent of layoffs $68 million He stated that this will cost between 10 and 100,000 euros and that most payments will be made in the last quarter of 2024.
The company has recently lost its market share to its competitors. Dropbox, which added just 63,000 new users in its last fiscal quarter, also saw a decline in revenue growth. Houston added that in some parts of the business they were unable to respond to customer demands and were performing below industry average. All changes and changes that will be implemented in the coming days Details of strategies for 2025 He stated that it would be shared.
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