Business

Dropbox Lays Off 20 Percent of Employees, Cites ‘Macro Headwinds’

In an email to employees, CEO Drew Houston announced cuts where the company was ‘over-invested’ and ‘underperforming.’
Dropbox Lays Off 20 Percent of Employees, Cites ‘Macro Headwinds’
A Nasdaq analyst monitors trading during Dropbox's initial public offering at Nasdaq MarketSite in New York City on March 23, 2018. Drew Angerer/Getty Images
Kimberly Hayek
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Dropbox, a California technology company known for its file hosting services, announced that it has cut its global workforce by about 20 percent, or 528 employees, citing a decrease in demand and underperformance.

The San Francisco company made the announcement in an email from CEO Drew Houston to all employees, published on its blog on Oct. 30.
Kimberly Hayek
Kimberly Hayek
Author
Kimberly Hayek is a reporter for The Epoch Times. She covers California news and has worked as an editor and on scene at the U.S.-Mexico border during the 2018 migrant caravan crisis.