CEO Drew Houston stated, "As CEO, I take full responsibility for this decision and the circumstances that led to it, and I'm truly sorry to those impacted by this change."
"I know this is incredibly difficult and unwelcome news. To everyone leaving Dropbox, I'm deeply grateful for everything you've done for our company and our customers," said Houston.
Dropbox's layoffs, around 20% of its workforce, were necessary due to over-investing or underperformance despite a profitable year, reflecting a challenging market.
Recent layoffs at Dropbox follow a previous round of 16% last year, attributed to AI effects and a maturing market, with growth now below two percent.
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