Dropbox, announced on Wednesday that it is cutting its global workforce by about 11%. The company’s stock was down more than 4.5% in late-morning trading. The announcement will affect 315 people, who will be notified by the end of the business day. Dropbox has stated that the job cuts will aid in the company focusing on new priorities, such as evolving the core Dropbox experience, investing new products, and driving operational excellence.
See "Dropbox to Cut 11% of its Global Workforce", Jessica Bursztynsky, CNBC, January 14, 2021