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Dropbox announces 20% global workforce reduction

blog.dropbox.com

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Re: Dropbox announces 20% global workforce reduction

#941

Post by johnnyanmac »

alberth wrote: post #484
bravetraveler wrote: post #453

Earlier quoted context omitted.

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

It's less of a habit and more indication of a matured business. Their revenue has only been growing ~5% (and slowing to just 1% most recent quarter). When you aren't growing, you must focus on operation efficiencies. Rule of 40, now being applied to margin.

I'm not going to believe this "matured business" narrative when the letter itself claims right after that.

>We continue to see softening demand and macro headwinds in our core business.

This isn't a matured business strategy. This is a business predicting a cold winter and trying to bundle itself up. Of course, the less people to warm up the better.

Re: Dropbox announces 20% global workforce reduction

#942

Post by FirmwareBurner »

johnnyanmac wrote: post #911
FirmwareBurner wrote: post #687

Earlier quoted context omitted.

Would the CEO resigning or getting laid off, make your situation any better if you were one of those laid off? Feels like a weird hill to die on, and more like a crabs in the bucket mentality that doesn't change anything in the grand scheme of things. In the end I'm still unemployed and whatever happens to my ex-CEO doesn't change my situation one bit. As I grew older and experienced my share of layoffs, I stopped ca…

It wouldn't, but it'd reassure me I wasn't some expendable pawn and they are preteding to be responsible. A company trying to cut back on the highest paid workers who will still survive shows a captain willing to drown with their boat. but it doesn't work like that in the western world. >As I grew older and experienced my share of layoffs, I stopped caring about what happens to those responsible for me getting laid o…

>but I sure will take it personally the next time that company tries to make deals with me later in my career.

You don't do deals with companies who fire people? You wouldn't be working for any company in the world then. IIRC in communism they never fired people, maybe that system will serve you better. Oh wait...

>I don't like being treated as a slave.

"Sent from my iPhone sipping my latte in California"

I wish you all spoiled rich western workers would stop using the slave word so easily whenever an employer does something to you, as it dilutes the meaning and the severity of the word. Similar with the over misuse of the words woke and nazi.

Please read up on what slavery actually meant and the lives of actual slaves. Working in tech in the richest country in the world, and being fired by Dropbox isn't even remotely in the same ball-planet as slavery.

Re: Dropbox announces 20% global workforce reduction

#943

Post by johnnyanmac »

apwell23 wrote: post #473
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…

> $100K all-in comp (which seems low to me for a tech salary) ic1 at dropbox is 175k and ic4 is near 500k, ic5 near 700k. https://www.levels.fyi/companies/dropbox/salaries Do they really need such highly paid engineers? Are they really doing anything that innovative, new or first on market. They could probably save these jobs by adjusting the comps.

This is how Musk stripped 80% of twitter. Take that as you may.

Remember that Dropbox (like Twitter) is HQ'd in San Francicso.

Re: Dropbox announces 20% global workforce reduction

#944

Post by johnnyanmac »

anon291 wrote: post #526
pjmlp wrote: post #502

Earlier quoted context omitted.

Except that isn't what happens, instead every year a new goal that has to be X % higher is set, and when expectations are not met, the employees are the ones landing on the street for stupid values of X%. The one signing off on X% might even get a bonus for doing that, and enjoy some Bahamas vacations.

In tech sure, but in the market, many companies simply return dividends. Lots of mining stocks, retailers, commodity producers, etc don't experience exponential growth

indeed. but tech gets some new boom every 3 years and that's why no company worth their salt is going to settle on dividends. It's still growing fast, so companies expect fast growth. Even in the recession they don't want to pretend exists but knows exists.

Re: Dropbox announces 20% global workforce reduction

#945

Post by pc86 »

jedberg wrote: post #728
pc86 wrote: post #641

Earlier quoted context omitted.

> There should also be some reasonable government provided safety net There is, it's called Medicaid.

That's not really a solution. You have to be broke to use Medicaid. They expect you to fully drain all your assets first. I shouldn't have to sell my house to get medical care.

Either wrong or a lie. You are not expected to "fully drain all your assets." Your primary residency is completely excluded from means testing unless you don't intend to return to it or it's above an very high threshold - most of the country it's about 2.5-3x the median home price and it is higher in HCOL states.

Re: Dropbox announces 20% global workforce reduction

#946

Post by johnnyanmac »

otteromkram wrote: post #540
pjmlp wrote: post #458

Earlier quoted context omitted.

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

I have an MBA and am not a CEO. I'm probably better at developing software than you, too. But, I do get a chuckle out of what you believe is a "diss," when you're actually stating that MBA holders will not only do better in life, but they'll also control your fate. Keep that narrative alive; I love it!

>when you're actually stating that MBA holders will not only do better in life, but they'll also control your fate.

Not if I can help it. America is doomed but I can scavenge out my own little hole to settle in and see if that survives the fallout.

If there's one thing I learned, it's that tech has an amazing ability of scale that can even topple titans if you strike at the right time and place. You won't make trillions, but you can live very comfortably. And that's all I want; I don't need infinite money and exponential growth. And if I do get a company that achieves that I will keep it that way. a proper business, not a speculative stock to gamble with.

It means absolutely nothing to you, but you're the exact kind of person I'd avoid in my company at all costs. Our goals diverge too much, and that's not a bad thing. Comapnies need to have proper alignment to succeed.

Re: Dropbox announces 20% global workforce reduction

#947

Post by FirmwareBurner »

johnnyanmac wrote: post #912
FirmwareBurner wrote: post #868

Earlier quoted context omitted.

>like (say) the CEO and entire C-suite cutting their salary to $1 for a year What's the point of being CEO then? Have the stress of running a company while working for free? Who would ever want to do that?

>What's the point of being CEO then? I don't know. As you said, it's a waste of energy to wonder about other people and their endeavors. Better to focus on me. And I need the money. CEOs don't. Feels odd to go from "don't spend your energy thinking about other rich people" and then go "but rich people 'want' money" when someone makes a suggestion. >Have the stress of running a company while working for free? Who woul…

>I don't know. [...] And I need the money. CEOs don't.

That's some silly delulu shit right there. Imma end this conversation with you right here since you're not arguing in good faith as you've already made up your mind, so it's a waste of my energy and time to continue this any further.

Re: Dropbox announces 20% global workforce reduction

#948

Post by FirmwareBurner »

johnnyanmac wrote: post #913
FirmwareBurner wrote: post #786

Earlier quoted context omitted.

>and he guided the company to a point where certain areas became "over-invested or under-performing." And now he's fixing it by cutting those under-performing areas. >So, it should be him stepping down. Why? How would that help the company get better? Do you think competent CEOs are like cogs that you can pick a new one from the stack of LinkedIn applications whenever the old one makes a mistake, and then slot him in…

>That's why you don't rush to replace the devil you know with the devil you don't. It's the same devil with the same playbook. They all know each other at that level. And yes, they are doing that in some sectors (and some CEO's want that). Less in tech, but I suspect more shakeups once the AI bubble ends.

>It's the same devil with the same playbook.

Why don't you start your own company so you can be a model angelic CEO then? Why bother working for these "evil" guys? Or work for a local mom and pop shop instead of a publicly traded company?

Re: Dropbox announces 20% global workforce reduction

#949

Post by johnnyanmac »

JAlexoid wrote: post #405
amelius wrote: post #365

Earlier quoted context omitted.

> 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 ...

Why would you fire your best and brightest? That would be like throwing out good fruit, when there are spoiled ones. No, it's a very poor idea to force companies to lay off at random.

>That would be like throwing out good fruit, when there are spoiled ones.

Have you seen the industry lately? They don't care unless they have leadership who actually has tech experience. The company will float long enough for the next executive to worry about the consequences.

To put it more charitably: They may want to care but there's too much beuracracy to holistically figure out performance, and the stats measured are horrible 99% of the time anyway. So yeah, it all comes down to "vibes". Which is probably worse than random for tech workers. They won't feel short term consequences, so it's not a big deal for them if they lose a few "best and brightest" (they will probably leave after the layoff announcements anyway).

Re: Dropbox announces 20% global workforce reduction

#950

Post by johnnyanmac »

heyjamesknight wrote: post #401
amelius wrote: post #365

Earlier quoted context omitted.

> 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 ...

This is a joke, right? If a company is underperforming, then the underperformers are the first to go. Market economies require efficiency. Capital flows in the direction of success. Impeding this flow with regulation is a great way to create a malfunctioning economy.

Nope. it REALLY depends. Sometimes underperformers are focused on. Sometimes worst ratio of performance to pay is focused on. Sometimes it's random if lawsuits are a worry (AKA they want to layoff the older workers but need to shuffle in some others so it isn't suspicious). Sometimes it's purely vibes for who's picking who to be laid off.

There's no consistent layoff strategy. Especially not in times like this.

> Impeding this flow with regulation is a great way to create a malfunctioning economy.

yup, and look where we are heading next year...

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