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Dropbox announces 20% global workforce reduction

blog.dropbox.com

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Re: Dropbox announces 20% global workforce reduction

#451

Post by thayne »

echoangle wrote: post #295
bhouston wrote: post #244

Earlier quoted context omitted.

> Drew Houston's total compensation for the year in 2023 was $1.5M That is insanely low for the CEO of a public company of Dropbox's size. But I suspect he owned a lot of shares in the company so when it went public, so he doesn't need salary, it is just a rounding error in terms of his wealth. EDIT: Yeah, he is worth $2B according to Forbes: https://www.forbes.com/profile/drew-houston/

I always wonder what gives these people the drive to continue. Maybe I’m lazy and lacking vision but if I were worth 2B, I don’t think I would go to the office every day just to get accused of mismanagement when I have to lay people off. I would take my yacht to the Caribbean and slack off.

I can understand wanting to continue doing something. What I don't understand is why instead of putting their time and now considerable wealth into more philanthropic pursuits, they decide to continue increasing their wealth, often at the expense of other, less fortunate people.

Re: Dropbox announces 20% global workforce reduction

#452

Post by xnorswap »

eweise wrote: post #375
ericmcer wrote: post #350

Earlier quoted context omitted.

Seriously, that severance is awesome. Of all the tech workers struggling, the ones from companies big enough to throw 4+ mo severance packages are not the ones I am worried about. Any smaller company your severance is a pat on the back.

Yep. last time I got laid off, I got paid through that day. nothing else.

Lobby your representative for change. This is something that laws can and should fix.

Not having worker protections is a political choice. It's not something the market or technology will solve.

Many countries have laws that prevent workers getting laid off with no severance. It is a solved problem, but it's inherently a political problem.

Re: Dropbox announces 20% global workforce reduction

#453

Post by bravetraveler »

andygcook wrote: post #208

For context, Drew Houston's total compensation for the year in 2023 was $1.5M: > According to our data, Dropbox, Inc. ... paid its CEO total annual compensation worth US$1.5m over the year to December 2023. That's a notable increase of 34% on last year via https://finance.yahoo.com/news/heres-why-dropbox-inc-nasdaq-... Even if Drew took minimum wage, that would save ~15 jobs assuming $100K all-in comp (which seems lo…

https://blog.dropbox.com/topics/company/a-message-from-drew

Drew is developing a habit. 16% last year

edit: 11% before that: https://dropbox.gcs-web.com/node/8916/html

Re: Dropbox announces 20% global workforce reduction

#454

Post by lotsofpulp »

bigstrat2003 wrote: post #391
kraig911 wrote: post #183

Dropbox my one critique is can you please make it affordable again. I just can't justify the cost as there are cheaper services out there. I don't care about PDF signing etc. I fear OneDrive/Google Drive are eating you lunch because it's a hard sell to be competitive against them price wise.

I left Dropbox when they added (and preemptively enabled) a checkbox that shared your data with them for AI training. I refuse to do business with a company that will just unilaterally invade my privacy like that. They can make it as cheap as they want, I'll never go back.

Selling data is always the last play for all businesses that have data.

Either you never give it to them in a way that can be sold (e.g. fully encrypted), or you expect them to sell it when the leaders need to increase cash flow.

Re: Dropbox announces 20% global workforce reduction

#455

Post by keybored »

csallen wrote: post #385
echoangle wrote: post #295

Earlier quoted context omitted.

I always wonder what gives these people the drive to continue. Maybe I’m lazy and lacking vision but if I were worth 2B, I don’t think I would go to the office every day just to get accused of mismanagement when I have to lay people off. I would take my yacht to the Caribbean and slack off.

People enjoy having a purpose and a mission in life. Leading a team of people that you put together, in order to improve a project you started, and knowing that doing so will improve both your lives and theirs, is incredibly fulfilling. Even if the day-to-day is full of hardships. In fact, working to overcome hardship is one of the primary source of meaning in life. Kids are another example. They're expensive, they'r…

Dreaming of winning the lottery and Going On Permanent Yacht Vacation is precisely the difference between being a worn out low-level worker and being a high-level executive who has all their needs met (or at least has the resources to have them met). With the latter you can have enough resources for you next ten generations and still go to work and optimize shareholder profits while thinking to yourself that you are serving a higher purpose.

Re: Dropbox announces 20% global workforce reduction

#456

Post by bastardoperator »

pclmulqdq wrote: post #430
bastardoperator wrote: post #422

Earlier quoted context omitted.

We should start with the executives who didn't perform/execute, they're the biggest liability.

This often does happen along with layoffs when a company is in real trouble. A problem of silicon valley culture is that you basically can't fire anyone for underperformance, so you need to have these sorts of layoffs as a prophylactic measure to cull the heard. So that means you get a cycle of "overhiring" followed by "layoffs" and that is working exactly as intended.

California is at will, you can fire anyone for anything or even nothing. I'm yet to see poor performing executives take themselves out before they take out the people that actually create value. You don't need to have layoffs, you need better leaders, and they're the last ones to get culled, usually running off with bonuses for under-performance and lousy work.

Re: Dropbox announces 20% global workforce reduction

#458

Post by pjmlp »

andygcook wrote: post #208

For context, Drew Houston's total compensation for the year in 2023 was $1.5M: > According to our data, Dropbox, Inc. ... paid its CEO total annual compensation worth US$1.5m over the year to December 2023. That's a notable increase of 34% on last year via https://finance.yahoo.com/news/heres-why-dropbox-inc-nasdaq-... Even if Drew took minimum wage, that would save ~15 jobs assuming $100K all-in comp (which seems lo…

Nope, MBAs have to learn exponential growth is impossible to accomplish forever.

Companies should be managed to be profitable, while paying employees and business expenses.

Anything other is a pipe dream that eventually blows up, but since only employees suffer while the MBA guys go to become CEO of yet another adventure, who cares. /s

Re: Dropbox announces 20% global workforce reduction

#459

Post by lotsofpulp »

wg0 wrote: post #210

Not sure if it is relevant but after firing 500 people, the stock price is almost up by 2 dollars between 29th and and 30th October. Next - we have to raise our prices. Probably lazy money invested for gains takes its toll on the rest of the society.

You are welcome to start a business that competes with Apple/Alphabet/Microsoft/Amazon, and see if you can survive without raising prices or making bets that may not succeed and cause you to fire people.

Re: Dropbox announces 20% global workforce reduction

#460

Post by Clubber »

amelius wrote: post #365
andygcook wrote: post #208

For context, Drew Houston's total compensation for the year in 2023 was $1.5M: > According to our data, Dropbox, Inc. ... paid its CEO total annual compensation worth US$1.5m over the year to December 2023. That's a notable increase of 34% on last year via https://finance.yahoo.com/news/heres-why-dropbox-inc-nasdaq-... Even if Drew took minimum wage, that would save ~15 jobs assuming $100K all-in comp (which seems lo…

> Layoffs suck and no one wants to do it, but sometimes it's needed to save the ship. But they always fire the weak employees, not the ones that can easily help themselves. Maybe we should have some laws that randomize the layoffs ...

>But they always fire the weak employees

What you are referring to is called rightsizing and it's taught in business schools, but almost never implemented well. I would guess it's because it takes to long to figure out who's weak and who's not and they are in a hurry to cut costs.

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