Dropbox announced it is laying off 528 people, or 20% of its workforce, CEO Drew Houston wrote in a staff memo published on the company website Wednesday.
“As CEO, I take full responsibility for this decision and the circumstances that led to it, and I’m truly sorry to those impacted by this change,” Houston wrote, adding that the company “over-invested,” and will now be “flatter” and “more efficient.”
TechCrunch reports that Dropbox had the lowest growth in its history in Q2, and in August, its shares year to date lost over 20% of
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