Dropbox Will Lay Off 16% Of Its Employees Due to Slowing Growth

Market Trends

Dropbox, the cloud storage company, revealed on Thursday

It is cutting off 16% of its workforce, or around 500 people, due to sluggish growth. 

Dropbox CEO Drew Houston stated that he accepts full responsibility for this action.

Part of this is due to the natural maturing of our current operations

More recently, economic headwinds have put pressure on our consumers, and hence on our business. 

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