Dropbox cuts about 9% of global staff, $33 million severance planned
Business
Dropbox is cutting about 9% of its global team to refocus on its main products and growth goals.
This means around 190 employees will be leaving, and the company will spend up to $33 million on severance packages, with most costs showing up in the fourth quarter and the remainder in 2027.
Dropbox CTO Ali Dasdan leaving November
Alongside the layoffs, Dropbox's Chief Technology Officer Ali Dasdan is stepping down in November, following a recent CEO change earlier this year.
Despite these big shifts, Dropbox says it's still on track to hit or beat its financial targets for the third quarter as it doubles down on streamlining and core priorities.