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Dropbox is Laying Off 20% of Its Staff

Dropbox is letting go 20% of its workforce as the cloud company undergoes what CEO Drew Houston calls a "transitional period." From a report: In a letter to staff, Houston said that the reduction in headcount would impact 528 people. The goal, he added, was to make cuts in areas where Dropbox has "o...

Dropbox is letting go 20% of its workforce as the cloud company undergoes what CEO Drew Houston calls a "transitional period." The goal, he added, was to make cuts in areas where Dropbox has "over-invested" while designing a "flatter, more efficient" team structure. "This market is moving fast and investors are pouring hundreds of millions of dollars into this space.

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