• Economy
  • Editor’s Pick
Money Rise Today – Investing and Stock News
  • Investing
  • Stock
Stock

Dropbox slashes 20% of global workforce, eliminating more than 500 roles

by October 31, 2024
written by October 31, 2024

Dropbox is laying off 20% of its global workforce, the equivalent of 528 roles, CEO Drew Houston announced Wednesday in a note to staff.

The company is in a “transitional period” as its file sync and share business and its Dash artificial-intelligence search feature mature, Houston wrote.

“Navigating this transition while maintaining our current structure and investment levels is no longer sustainable,” he said in his note.

The move follows a 16% cut to Dropbox’s workforce in April 2023, which affected 500 staffers. At the time, Houston wrote that the cuts were due to slowing growth, economic headwinds and the need to invest more resources and head count into the increasingly competitive AI race.

Dropbox will be making cuts to the parts of its business where the company is “over-invested or underperforming” while working toward a “flatter, more efficient” team structure, Houston wrote.

“We continue to see softening demand and macro headwinds in our core business,” Houston wrote. “But external factors are only part of the story. We’ve heard from many of you that our organizational structure has become overly complex, with excess layers of management slowing us down.”

Affected employees will receive 16 weeks of pay, starting Wednesday, with one additional week of pay for each completed tenure year at the company.

This post appeared first on NBC NEWS
0 comment
0
FacebookTwitterPinterestEmail

previous post
Biden’s ‘garbage’ comment sends Dem Senate candidates scrambling in key swing states: ‘strongly disagrees’
next post
Biden’s ‘garbage’ comment sends Dem senators scrambling in key swing state races: ‘Strongly disagrees’

related articles

U.S. foreign tax bill sends jitters across Wall...

May 30, 2025

Amazon taps Xbox co-founder to lead new team...

May 30, 2025

Nvidia results spark global chip rally

May 30, 2025

Boeing to resume airplane deliveries to China next...

May 29, 2025

E.l.f. Beauty to acquire Hailey Bieber skin care...

May 29, 2025

Dick’s Sporting Goods stands by full-year guidance —...

May 28, 2025

Macy’s CEO says retailer will hike some prices...

May 28, 2025

23andMe to delist from Nasdaq, deregister with SEC

May 28, 2025

Walmart fined for shipping realistic toy guns to...

May 28, 2025

Why Trump’s iPhone tariff threat might not be...

May 25, 2025
Enter Your Information Below To Receive Free Trading Ideas, Latest News, And Articles.


Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest News

  • EXCLUSIVE: Trump has achieved more in 100 days than ‘most presidents’ in their lifetimes, Johnson says

    April 28, 2025
  • White House to impose tariffs on Mexico, Canada and China due to ‘invasion of illegal fentanyl’

    January 31, 2025
  • Microsoft plans September cybersecurity event to discuss changes after CrowdStrike outage

    August 25, 2024
  • ‘Serious loophole’: GOP widens probe into ActBlue, Dem fundraising platform helping Harris raise millions

    August 5, 2024
  • Biden says he is still considering pre-emptive pardons for Trump targets Liz Cheney, Fauci and others

    January 8, 2025

Popular Posts

  • 1

    Secret Service admits leaning on ‘state and local partners’ after claim it ignored Trump team’s past requests

    July 21, 2024
  • 2

    Elon and Vivek should tackle US funding for this boondoogle organization and score a multimillion dollar win

    December 4, 2024
  • 3

    Forex Profit Calculator: Maximize Your Trading Potential

    July 10, 2024
  • 4

    Five more House Democrats call on Biden to drop out, third US senator

    July 19, 2024
  • 5

    Biden calls to ‘lower the temperature’ then bashes Trump in NAACP speech

    July 17, 2024

Categories

  • Economy (829)
  • Editor's Pick (4,735)
  • Investing (624)
  • Stock (775)

Latest Posts

  • Long AME: bullish uptrend channel and strong support levels indicate promising near-term upside potential

    July 23, 2024
  • The Dogecoin is moving below 0.12800 this morning

    July 30, 2024
  • Trump claims Harris runs ‘a campaign of absolute hate’ following backlash to Madison Square Garden rally

    October 29, 2024

Recent Posts

  • ‘Blindsided’: How Stefanik’s Trump nomination as UN ambassador imploded

    March 31, 2025
  • US Presidential Election: Harris, Trump & Debate

    August 1, 2024
  • Palantir stock continues slide on Thursday: why these analysts remain bullish

    February 21, 2025

Editor’s Pick

  • Nordstrom to go private in $6.25 billion deal with founding family, Mexican retailer

    December 24, 2024
  • Women for Trump, Goya team up to provide relief to Hurricane Helene victims in Georgia

    October 7, 2024
  • Elon Musk says ‘all actions’ taken by Department of Government Efficiency will be online: ‘Transparency’

    November 13, 2024
  • About us
  • Contacts
  • Privacy Policy
  • Terms & Conditions

Disclaimer: moneyrisetoday.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2025 moneyrisetoday.com | All Rights Reserved

Money Rise Today – Investing and Stock News
  • Economy
  • Editor’s Pick
Money Rise Today – Investing and Stock News
  • Investing
  • Stock