Dropbox announced that it has decided to reduce the number of staff and the number of employees that will be laid off in this process.
Dropbox, which offers cloud-based serviceswith his statement will lay off 20% of its staff announced. CEO Drew Houston stated that this decision is part of a “transitional period” process.
In the letter he sent to employees, Houston stated that in total 528 people will be laid off he stated.
Dropbox will announce its new strategies
He emphasized that the purpose of the decision was to create a “more efficient” structure by making cuts in areas where the company “overinvested”. Additionally, 63 to 63 percent of layoffs $68 million He stated that it will bring a cost of between 100 and 100,000 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 only 63 thousand new users in its last fiscal quarter, also experienced a decline in revenue growth. Houston added that they were unable to respond to customer demands in some parts of the business and were performing below industry averages. All changes and changes that will be made in the coming days Details of 2025 strategies He stated that it would be shared.
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Source :
https://techcrunch.com/2024/10/30/dropbox-is-laying-off-20-of-its-staff/
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