Sightful Invest
  • Business
  • Investing
  • Politics
  • Stock
Top Posts
Red Cross receives two coffins of deceased hostages...
Trump surgeon general nominee confirmation hearing postponed as...
Vance to meet with Duffy, aviation leaders as...
Once a trade war weapon, US soybeans return...
Republican senators blast FDA for expanding abortion pill...
Senate defies Trump on global tariffs as Republicans...
House Republicans divided over Obamacare as GOP eyes...
Thune, GOP reject pushing ‘rifle-shot’ government funding bills...
Trump’s fire fades on Russia as he pulls...
GOP lawmaker says backing Cuomo over ‘communist’ Mamdani...
  • Business
  • Investing
  • Politics
  • Stock

Sightful Invest

Business

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

by admin October 31, 2024
October 31, 2024
Dropbox slashes 20% of global workforce, eliminating more than 500 roles

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

previous post
Pentagon says ‘small number’ of North Korean troops in Russia’s Kursk region; Biden concerned
next post
Lithium ION Energy Signs LOI with United Rare Earths, for a Business Combination

You may also like

Broadband industry quietly abandons Capitol Hill fight to...

September 11, 2024

Trump Media plummets 10% as post-lockup selloff picks...

September 24, 2024

As Trump eyes more tariffs, South Korea remains...

February 15, 2025

Venu, a $42.99 per month sports streamer, has...

August 2, 2024

Trump-branded wireless service launches — with a gold...

June 18, 2025

Fed’s key inflation measure cooled slightly from a...

July 27, 2024

Surging AI demand could cause the world’s next...

September 26, 2024

Delta Airlines cancellations and delays continue but worst...

July 25, 2024

Why the LA Rams are worth $2 billion...

September 6, 2024

McDonald’s revenue disappoints as U.S. sales see worst...

February 11, 2025

Recent Posts

  • Red Cross receives two coffins of deceased hostages in Gaza Strip, IDF says
  • Trump surgeon general nominee confirmation hearing postponed as she goes into labor
  • Vance to meet with Duffy, aviation leaders as shutdown ‘gravely’ impacts crucial industry
  • Once a trade war weapon, US soybeans return to China’s shopping list
  • Republican senators blast FDA for expanding abortion pill access

    Sign up for our newsletter to receive the latest insights, updates, and exclusive content straight to your inbox! Whether it's industry news, expert advice, or inspiring stories, we bring you valuable information that you won't find anywhere else. Stay connected with us!


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Categories

    • Business (946)
    • Investing (3,314)
    • Politics (4,055)
    • Stock (4)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: sightfulinvest.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 Sightful Invest. All Rights Reserved.