Dropbox laid off 20% of its workforce, affecting over 500 employees, as the company faces soft demand and challenges in its core file sync business.
Drew Houston, Dropbox's CEO, stated, '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.'
The company's revenue growth for the most recent quarter was the lowest in history at just 1.9%, indicating difficulties in its competitive landscape.
Amazon CEO Andy Jassy sought to establish a better relationship with Trump, emphasizing Amazon's future plans as the presidential election season heats up.
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