Dropbox is laying off 528 employees to reduce its workforce by 20%, citing a need for a flatter structure and addressing softening demand in its core business.
CEO Drew Houston acknowledged that organizational complexity and excess management layers have led to slowed performance, prompting significant organizational changes to enhance efficiency.
Houston stated, 'We continue to see softening demand and macro headwinds in our core business,' emphasizing that changes are necessary for Dropbox to meet customer expectations.
The layoffs come after a previous reduction of 500 employees in April 2023, as Houston noted that the company's profitability was not keeping pace with industry leaders.
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