Dropbox Lays Off 20% of Workforce in Major Restructuring Effort

Dropbox announces a significant workforce reduction, laying off 20% of its employees amid a strategic reevaluation. CEO Drew Houston cites the need for a more efficient organizational structure to adapt to the evolving cloud storage market. This decision, affecting approximately 528 workers, aims to position Dropbox for long-term growth and competitiveness in the face of increasing investment and competition in the sector.