Dropbox announces 20% global workforce reduction • Hacker News Board

Re: Dropbox announces 20% global workforce reduction

#541

Post by mattmaroon » Wed, Oct 30, 2024, 4:56 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?

Why is it a blunder? Do you think only poor CEOs face downturns or overhire?

And if a company hires too many people for a few years and then right-sizes, isn’t that better for the economy overall than if they simply stayed small the whole time? They still paid salaries for those years and added to the overall level of employment.

Do you want a system where CEOs are hesitant to hire? Or where they’re afraid to right-size the workforce and instead run the whole company out of business?

There’s literally zero logic to your position, just feelings and Monday morning quarterbacking.

Re: Dropbox announces 20% global workforce reduction

#542

Post by stego-tech » Wed, Oct 30, 2024, 4:56 PM UTC

Incredibly disappointing, but not surprising. Dropbox is no longer in its growth phase, and needs to settle into maintenance mode - enjoying a steady stream of revenue while continuously optimizing expenses, with a bit set aside for R&D to try and find the next big growth opportunity. Severance packages look really good, with the caveat that these figures really should be _the default_ in Corporate America at this point, like our EU peers.

I just wish the language in the announcement reflected this reality. Instead, it feels like a lot of desperation measures from current tech companies: overly optimistic to the point of naively dismissing or ignoring reality, and believing that if we just keep building then we’ll continue to grow forever.

Re: Dropbox announces 20% global workforce reduction

#543

Post by carabiner » Wed, Oct 30, 2024, 4:56 PM UTC

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…

Why is the CEO's TC relevant to layoffs?

Re: Dropbox announces 20% global workforce reduction

#544

Post by tantalor » Wed, Oct 30, 2024, 4:56 PM UTC

azemetre wrote: post #509

Something weird I noticed about Dropbox: I cancelled my paid account two years ago. I had 5 terabytes of storage being used (mostly shitty concert vids and food pics). Everyday they email me telling me I’m over my limit. They always “threaten” to delete the data but it’s been two years since I cancelled. My Qs are: why are they hoarding my data for so long? Why would they want to do this? How cheap is storage for the…

> sold my data

Sure the license agreement would not legally permit that.

I wonder what kind of legal recourse you would have. There's obviously copyright infringement, but I think state laws like CCPA include remedies for violations.

Re: Dropbox announces 20% global workforce reduction

#545

Post by leoapagano » Wed, Oct 30, 2024, 4:57 PM UTC

baudpunk wrote: post #327

Kind of surprising to me, because I think I've tried every large competitor in the space, and have found there to be a gulf between the Dropbox UX and everyone else. I'm more than willing to pay their premium price. I was hoping Proton Drive would compete, but I felt like I was beta testing an inferior product. I guess Wu Tang was right.

Pardon—what does Wu Tang have to do with Dropbox?

Re: Dropbox announces 20% global workforce reduction

#546

Post by formerlurker » Wed, Oct 30, 2024, 4:57 PM UTC

hankman86 wrote: post #463

The uncomfortable truth is that pretty much any business can cut staff by 20% without impacting overall performance. Provided that you manage to weed out the tail end of the performance bell curve that is. Most of the time, reducing staff is a healthy move for the business and the impacted employees. The company will not only save cost, but strengthen its culture of high performance. And under-achieving employees are…

So, reduce people to numbers and accept the suicides?

Re: Dropbox announces 20% global workforce reduction

#547

Post by [deleted] » Wed, Oct 30, 2024, 4:57 PM UTC

stego-tech wrote: post #542

Incredibly disappointing, but not surprising. Dropbox is no longer in its growth phase, and needs to settle into maintenance mode - enjoying a steady stream of revenue while continuously optimizing expenses, with a bit set aside for R&D to try and find the next big growth opportunity. Severance packages look really good, with the caveat that these figures really should be _the default_ in Corporate America at this po…

[deleted]

Re: Dropbox announces 20% global workforce reduction

#548

Post by SoftTalker » Wed, Oct 30, 2024, 4:57 PM UTC

Clent wrote: post #31

skwee357 wrote: post #6

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

Claims to take full responsibility but since he has not resigned he has not taken any responsibility he has just said the words.

That's not what it means.

As CEO, it's his responsibility to make/approve the decision to do the layoffs, or not. The buck stops with him. That's all that it means. It doesn't mean he's liable for any hardships.

Re: Dropbox announces 20% global workforce reduction

#549

Post by asah » Wed, Oct 30, 2024, 4:57 PM UTC

siliconc0w wrote: post #195

elric wrote: post #90

I'm always a bit confused by profitable companies with (presumably) large reserves laying off lots of people. I get that they want to remain profitable. But sure 500ish people could be put to some use? A new product, a new market, a spinoff. Whatever? Are you telling me that no one in such a big, wealthy company of clever engineers has any use for a bunch of talented people?

I'm a libertarian in most things but I still don't like layoffs from profitable companies. Like it's probably not good for our society that people have to up end their life every few years and probably move to find a new job. Both my parents stayed in the same job for their careers and it meant they could stay in the same place, have kids, build ties to the community, etc. Seems important if you want to not die out a…

As one friend put it, he "works for Silicon Valley Inc, division."

Re: Dropbox announces 20% global workforce reduction

#550

Post by JumpCrisscross » Wed, Oct 30, 2024, 4:57 PM UTC

sangnoir wrote: post #515

Matticus_Rex wrote: post #406

Earlier quoted context omitted.

>that should make that person one of the people on proverbial track That's a satisfying thing to say, but as practical advice it's absolutely terrible . Often that person's leadership wasn't the problem, but even when it was, that doesn't necessarily mean that the company will be better-off without them. And that's the question -- what will make the company most likely to be the most successful going forward? Even if…

> Often that person's leadership wasn't the problem, but even when it was, that doesn't necessarily mean that the company will be better-off without them How convenient (for them)! When the company is doing well, they get millions in bonuses because their irreplaceable leadership skills - which make them 2000x more valuable than the least paid worker - were instrumental to the organization's success. When the chips a…

> must be nice to claim "macro-economic headwinds" as justification for poor performance and poor planning, but still get paid bonuses for the never-mentioned "macro-economic tailwinds"

What would you do if you owned a business? Fire leadership every time they make a wrong call? Or ban them from admitting they made a wrong call?