Dropbox CEO Drew Houston speaks onstage during the Dropbox Work In Progress Conference at Pier 48 on September 25, 2019 in San Francisco
Matt Winkelmeyer | Dropbox | Getty Images
Dropbox on Thursday announced plans to cut 500 employees, or about 16% of its workforce, according to a blog post on the company’s website.
Dropbox CEO Drew Houston said in the blog post that the company has been reckoning with slowing growth, in part due to a maturation of its business, but also as a result of economic headwinds that are pressuring its customers.
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