Dropbox is letting go 20% of its workforce as the cloud company undergoes what CEO Drew Houston calls a “transitional period.”
In a letter to staff, Houston said that the reduction in headcount would impact 528 people.
“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,” he wrote.
Affected employees will receive severance, equity, and transition payment, as well as certain healthcare and benefits and job placement services.
