Get the latest tech news

Dropbox is laying off 20% of its staff

Dropbox is laying off 20% of its staff as the cloud storage company undergoes what CEO Drew Houston calls a "transitional period."

Dropbox is letting go 20% of its workforce as the cloud company undergoes what CEO Drew Houston calls a “transitional period.” Affected employees will receive severance, equity, and transition payment, as well as certain healthcare and benefits and job placement services. Dropbox has struggled to grow in recent months, losing market share to rivals including Box and Google Drive.

Get the Android app