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What will be the workforce size change of Dropbox by October 2025?
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Dropbox's official reports or major financial publications
Story
Dropbox to Cut 20% of Workforce, Affecting 528 Employees Amid Strategic Shift
Oct 30, 2024, 02:26 PM
Dropbox has announced plans to lay off 20% of its global workforce, impacting approximately 528 employees, as it undergoes a transitional period. CEO Drew Houston stated that the layoffs aim to make the business more efficient amid slowing growth in its core cloud storage services. The company is shifting from a mature Financial Shared Services (FSS) business to focus on future growth opportunities. The layoffs will result in $63 million to $68 million in cash expenditures and $47 million to $52 million in severance-related costs.
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