Dropbox today announced they will be cutting 20% of their global workforce, impacting more than 528 employees. This is the second time Dropbox has shed a large number of employees, after shedding around 500 workers in April 2023.
Dropbox said this step was taken because the company is currently in a "transition phase", and is now trying to remove over-invested parts, in addition to designing a more efficient team.
At the same time, Dropbox also said they were seeing slightly slower demand in their core business – leading to the move to cut the workforce.
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BUSINESS & MONEY