Dropbox lays off 20% of staff, says it overinvested and underperformed

image via Ars Technica

October 30, 2024, 8:03 PM

• •Dropbox is laying off 528 employees, a move that will reduce its global workforce by 20 percent.
• •The company's core file sync and sharing business has matured, and it is working to build its next phase of growth with products like Dash, an AI-powered universal search product targeted to business customers.
• •Dropbox previously cut 500 employees in an April 2023 round of layoffs. At the time, CEO Drew Houston said that Dropbox's business was profitable but growth was slowing.

Dropbox is laying off 528 employees, or 20% of its workforce, CEO Drew Houston announced today. The company said it is making the cuts to "design a flatter, more efficient team structure overall.

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