Cloud storage firm Dropbox to lay off 315 employees

Document sharing and storage company Dropbox announced on Wednesday that it will lay off 315 employees globally as the company repositions “to create a healthy and thriving business for the future.”

The layoffs comprise roughly 11% of Dropbox’s workforce.

“Last spring I made a commitment to all of you to preserve job security through 2020, and it was important to me that we honored that promise,” CEO Drew Houston wrote in a memo to employees. “But looking ahead at 2021 and beyond, it’s clear that we need to make changes in order to create a healthy and thriving business for the future.”

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