Dropbox announces 20% global workforce reduction • Hacker News Board

Re: Dropbox announces 20% global workforce reduction

#21

Post by electriclove » Wed, Oct 30, 2024, 1:56 PM UTC

Company isn’t doing so great and future doesn’t look so great and people cost a lot of money so they are letting folks go who aren’t as valuable. This makes sense.

Re: Dropbox announces 20% global workforce reduction

#22

Post by wahnfrieden » Wed, Oct 30, 2024, 1:56 PM UTC

yieldcrv wrote: post #14

skwee357 wrote: post #6

Being sorry - check Takes full responsibility - check Layoffs are still there

how would you like the next CEO to handle it, for reference?

Conversion to worker coop

Re: Dropbox announces 20% global workforce reduction

#23

Post by mv4 » Wed, Oct 30, 2024, 1:56 PM UTC

whyenot wrote: post #7

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.

Whoa whoa whoa, he’s only taking responsibility for the decision .

... and the circumstances that led to it!

Re: Dropbox announces 20% global workforce reduction

#24

Post by CoolGuySteve » Wed, Oct 30, 2024, 1:56 PM UTC

yieldcrv wrote: post #14

skwee357 wrote: post #6

Being sorry - check Takes full responsibility - check Layoffs are still there

how would you like the next CEO to handle it, for reference?

I would like for there to be a next CEO

Re: Dropbox announces 20% global workforce reduction

#25

Post by bravetraveler » Wed, Oct 30, 2024, 1:56 PM UTC

yieldcrv wrote: post #14

skwee357 wrote: post #6

Being sorry - check Takes full responsibility - check Layoffs are still there

how would you like the next CEO to handle it, for reference?

With the resources that would otherwise be given to the excised one, is a good start

Re: Dropbox announces 20% global workforce reduction

#26

Post by giraffe_lady » Wed, Oct 30, 2024, 1:56 PM UTC

yieldcrv wrote: post #14

skwee357 wrote: post #6

Being sorry - check Takes full responsibility - check Layoffs are still there

how would you like the next CEO to handle it, for reference?

[flagged]

Re: Dropbox announces 20% global workforce reduction

#27

Post by qsi » Wed, Oct 30, 2024, 1:56 PM UTC

jimberlage wrote: post #4

Honestly, this doesn't strike me as a bad layoff announcement, with one caveat. I’m writing to let you all know that after careful consideration, we've decided to reduce our global workforce by approximately 20% or 528 Dropboxers. Should be replaced with I’m writing to let you all know that after careful consideration, we've decided to reduce our global workforce by approximately 20% or 528 people. You should never u…

I agree it's actually a well crafted layoff announcement. I wouldn't even faulting for using Dropboxers. If layoffs have to happen there are much worse ways of announcing and implementing them than this. Still very unpleasant if you're affected... (been there...)

Re: Dropbox announces 20% global workforce reduction

#28

Post by josefritzishere » Wed, Oct 30, 2024, 1:56 PM UTC

Dropbox makes over 600 M per quarter and about $2.53B per year. They dont need to do layoffs. This is a choice to desctroy jobs to temporarily enrich shareholders to the detriment of the company itself. Classic short-term decision making. https://stockanalysis.com/stocks/dbx/revenue/

Re: Dropbox announces 20% global workforce reduction

#29

Post by absoluteunit1 » Wed, Oct 30, 2024, 1:56 PM UTC

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)

Re: Dropbox announces 20% global workforce reduction

#30

Post by _sword » Wed, Oct 30, 2024, 1:56 PM UTC

Makes sense and was only a matter of time considering it has essentially no revenue growth to date this year and Non-GAAP margins in the low-to-mid 30's %. With near-0% revenue growth, investors will expect a SaaS company to post 40%+ margins.