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The company said in an 8K filing that after promising job security throughout 2020, the new year was forcing changes.
The layoffs represent about 11% of Dropbox's total staff, and come as Dropbox is reorganizing entirely around remote work. That's one reason for the layoffs, Drew Houston wrote to his staff: "Our Virtual First policy means we require fewer resources to support our in-office environment, so we're scaling back that investment and redeploying those resources to drive our ambitious product roadmap."
Dropbox also announced that COO Olivia Nottebohm is leaving the company on Feb. 5. She joined the company in February of 2020, so will leave right around her one-year anniversary.