Dropbox announces 20% global workforce reduction • Hacker News Board

Re: Dropbox announces 20% global workforce reduction

#111

Post by skwee357 » Wed, Oct 30, 2024, 2:10 PM UTC

foobarian wrote: post #61

skwee357 wrote: post #36

Earlier quoted context omitted.

These words mean nothing really. I expect the next CEO to not use meaningless phrases. How does "taking responsibility" works in his case? What does it even mean other than PR fluff?

I mean he's just stating what his job is. CEO is responsible by definition. He's saying "Hey all this is my job."

No, responsibility is not a word. Responsibility is an action.

If I'm on-call, I'm responsible to carry my laptop with me and be available immediately to fix critical issues. I don't just say "I take responsibility of being on-call", and the leave my laptop at home, get drunk and fall asleep in a bar for the weekend. That's called being irresponsible.

Re: Dropbox announces 20% global workforce reduction

#112

Post by bhouston » Wed, Oct 30, 2024, 2:10 PM UTC

toomuchtodo wrote: post #93

bhouston wrote: post #62

Earlier quoted context omitted.

Dropbox is public and has actual profits. I think your comment is not accurate. Instead I think the company has plateaued in growth and thus they need to cut back spending otherwise they will have falling profits and no growth - which is worse than just no growth.

Are their targets reasonable? Or are they reaching for fundamentals that don't exist as a storage utility? (Dropbox customer, pls just sync and store my data reliably) Edit: Reply was as I expected, thanks bhouston, agree they are potentially at the mature stage

If you don’t have growth you have to treat this as a PE firm would. You cut spending to a minimum while ensuring you keep your customers, thus maximizing profit to assets ratio. A lot of companies do not have growth but are great money machines. It may be that this is the mature stage for Dropbox.

Re: Dropbox announces 20% global workforce reduction

#113

Post by voisin » Wed, Oct 30, 2024, 2:11 PM UTC

avgDev wrote: post #103

osigurdson wrote: post #94

Earlier quoted context omitted.

Yeah, I just had a look at dropbox stock. I would have expected permanent cash hemorrhaging, but no they have a P/E of 15.

That is actually quite good. I am surprised.

A P/E on its own is not good or bad. If the company’s earnings are in decline you would expect a low P/E, and if they were growing aggressively then you would expect a high P/E. It is only when there is a mismatch when the ratio becomes interesting. I am not saying it isn’t interesting in this case but the comment you are replying to does not tell any information that would lead to the conclusion it is “quite good.”

Re: Dropbox announces 20% global workforce reduction

#114

Post by aprilthird2021 » Wed, Oct 30, 2024, 2:11 PM UTC

BossingAround wrote: post #57

absoluteunit1 wrote: post #29

The severance package is great! I don’t think I would be upset (unless I was extremely passionate about a project I was working on)

Really? 16 weeks of salary, or 4 months of pay. In my country, you get 3 months of pay as standard when you're fired from your job. Doesn't seem that great to me to be honest.

In big tech in the US, 4 months is usually enough to find another similar job in the industry. Also in the US for mass layoffs at big firms, the minimum is effectively 2 months because you are required by law to give 2 months notice to workers about such layoffs, 2 months severance is a way to not have to give such notice.

Re: Dropbox announces 20% global workforce reduction

#115

Post by eob » Wed, Oct 30, 2024, 2:11 PM UTC

malfist wrote: post #63

mattmaroon wrote: post #34

Earlier quoted context omitted.

What consequences would you like CEOs to take on when they have to do layoffs?

Resignation. If they made a big enough blunder to need to lay off 20% of their staff, they're not capable of leading the company. Why do we think they'd do any better next time if there are no consequences to their poor leadership?

Have you ever managed a complex, dynamic, changing system and found that the optimal size based on current conditions was 20% less than it was at some prior time?

I can think of all sorts examples.

Re: Dropbox announces 20% global workforce reduction

#116

Post by lm28469 » Wed, Oct 30, 2024, 2:12 PM UTC

pizzathyme wrote: post #43

lifeisgood99 wrote: post #2

"As CEO, I take full responsibility for this decision" Oh hey another one that takes responsibility by taking on 0 consequences.

Unpopular opinion, but I don't understand this type of comment. It sounds like people want executives to get some kind of punishment or pain as a consequence of laying people off. But what would that even look like? A fine? That would probably make no practical difference, and would discourage them from making changes that need to be made. Fire them? Then you would probably get a worse decision maker in the driver se…

> But what would that even look like? A fine? That would probably make no practical difference, and would discourage them from making changes that need to be made. Fire them? Then you would probably get a worse decision maker in the driver seat going forward, who also didn't learn from experience of going through layoffs.

Well they're the one asking to "take responsibility" here, the fact that they claim responsibility yet nothing happens is exactly why people don't like this phrasing.

Also who the fuck else can be responsible anyways ? The cook ? The guy who mops the fucking floor ?

Re: Dropbox announces 20% global workforce reduction

#117

Post by Eric_WVGG » Wed, Oct 30, 2024, 2:12 PM UTC

pizzathyme wrote: post #43

lifeisgood99 wrote: post #2

"As CEO, I take full responsibility for this decision" Oh hey another one that takes responsibility by taking on 0 consequences.

Unpopular opinion, but I don't understand this type of comment. It sounds like people want executives to get some kind of punishment or pain as a consequence of laying people off. But what would that even look like? A fine? That would probably make no practical difference, and would discourage them from making changes that need to be made. Fire them? Then you would probably get a worse decision maker in the driver se…

Yeah that opinion is unpopular because it's deeply stupid.

“you would probably get a worse decision maker in the driver seat going forward, who also didn't learn from experience of going through layoffs” or you would maybe get a better decision maker who didn't have to layoff — or hire unnecessary — workers in the first place? Ridiculous speculation.

Responsibility without consequences just means failing upward. That's why we have a gilded executive class of people who are barely qualified to run a local Taco Bell franchise.

Re: Dropbox announces 20% global workforce reduction

#118

Post by GiorgioG » Wed, Oct 30, 2024, 2:12 PM UTC

empath75 wrote: post #82

glimshe wrote: post #40

Earlier quoted context omitted.

If he was responsible for the conditions that led to the layoff, he could also resign.

Layoffs happen even in well run companies.

Actually they don't. Well run companies have cash reserves and expect to have periods of ups and downs. They don't pray to the alter of the next quarterly report.

Re: Dropbox announces 20% global workforce reduction

#119

Post by aprilthird2021 » Wed, Oct 30, 2024, 2:12 PM UTC

hunter2_ wrote: post #68

Buttons840 wrote: post #19

Earlier quoted context omitted.

It's to remind them they are beloved "Dropboxers", and are part of the family... before terminating them.

I've never been a big fan of any such language, regardless of layoff context. Do enough people prefer it that it's actually a net win for business by way of improved morale or whatever? I wonder if it's been seriously studied. Then again, I'm also of the mind that email addresses (or whatever other contact methods) ought to belong to functional areas/positions rather than to people (other than for person-specific top…

From an organizational psychology perspective I'm sure it tests well that's why they do it

Re: Dropbox announces 20% global workforce reduction

#120

Post by BossingAround » Wed, Oct 30, 2024, 2:12 PM UTC

ahstilde wrote: post #86

BossingAround wrote: post #57

Earlier quoted context omitted.

Really? 16 weeks of salary, or 4 months of pay. In my country, you get 3 months of pay as standard when you're fired from your job. Doesn't seem that great to me to be honest.

It sounds like it's 25% better than what you get in your country?

Personally, I'd consider this nothing to write home about. It's OK. Not great, not terrible.

If we're laying off 20% of the company, I'd expect the package to be somewhere in the 6-12 months range. To me, that would seem more fair, considering they are completely restructuring the whole company.