Team leaders will be following up with more details on any impact to your org shortly. We’re also realigning and refocusing our business teams to reflect proportionate adjustments to the product development teams they support and refinements to our strategy. We’re also streamlining how the company is organized.įor example, we’re consolidating our Core and Document Workflows businesses to reflect renewed focus on integrating our customers’ key workflows seamlessly within our core FSS product. Today’s changes were the result of taking a hard look at our strategic priorities and organizational structure as a leadership team, and aligning to principles of sustainable financial growth, efficiency, and flexibility to invest in our future. Job placement: Job placement services and career coaching will be available at no cost.Devices: Impacted employees will be eligible to keep company devices (phones, tablets, laptops, and peripherals) for personal use.Healthcare: All employees will be eligible for up to six months of COBRA in the US, and similar equivalents where applicable internationally, as well as Modern Health support.All impacted employees will receive their Q2 equity vest. Severance and equity: Impacted employees will be eligible for sixteen weeks of pay, with one additional week of pay for each completed year of tenure at Dropbox.Those leaving will be eligible to receive the following benefits and support: To all of you impacted by today’s news, we’re committed to doing as much as we can to take care of you through this transition. I’m truly sorry that as a result of these decisions, we have to part ways with Dropboxers and valued teammates who have made many contributions to the company. So we’ve made more significant cuts in these areas in order to free up investment in our future growth. In others, we haven’t been executing consistently or managing performance as tightly as we need to. In some areas, investments that showed promise before the downturn have more limited potential today. We’ve been bringing in great talent in these areas over the last couple years and we'll need even more.Īnd we need to acknowledge some other hard truths. However, our next stage of growth requires a different mix of skill sets, particularly in AI and early-stage product development. In an ideal world, we’d simply shift people from one team to another. However, this momentum has also alerted our competitors to many of the same opportunities. Over the last few months, AI has captured the world’s collective imagination, expanding the potential market for our next generation of AI-powered products more rapidly than any of us could have anticipated. The opportunity in front of us is greater than ever, but so is our need to act with urgency to seize it. And we’ve been building towards this future for a long time, as this year’s product pipeline will demonstrate. We’ve believed for many years that AI will give us new superpowers and completely transform knowledge work. Second, and more consequentially, the AI era of computing has finally arrived. As a result, some investments that used to deliver positive returns are no longer sustainable. Part of this is due to the natural maturation of our existing businesses, but more recently, headwinds from the economic downturn have put pressure on our customers and, in turn, on our business. So why would we take a step like this? What's changed?įirst, while our business is profitable, our growth has been slowing. I've said in the past that our business is stable and profitable. You'll also have some time today and tomorrow to wrap up and say goodbye to colleagues. If you've been impacted, you'll be sent a calendar invitation within the next 30 minutes for a 1:1 with a leader on your team and a member of the People team to go through details of your departure, package, and to ask any questions you may have. I'm writing to share that I’ve made the difficult decision to reduce our global workforce by about 16%, or 500 Dropboxers.įirst and foremost, I want to recognize the impact this decision has on Dropboxers who are affected and their families, and I take full ownership of this decision and the path that led us here. He sent the following email to all employees: Today, our cofounder and CEO Drew Houston shared the difficult news that we’ll be making reductions to our global workforce.
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