Dropbox COO to step down as company announces mass layoffs

Dropbox COO to step down as company announces mass layoffs

Dropbox
on
Wednesday
announced
the
exit
of
its
operations
chief
and
said
it
will
cut
11
percent
of
its
global
workforce,
or
315
people,
as
the
file
hosting
service
provider
shifts
business
resources
in
the
wake
of
the
COVID-19
pandemic.

Shares

fell
nearly
6
percent
to
$22.26

after
Dropbox
said
chief
operating
officer
Olivia
Nottebohm,
who
joined
last
year
from
Alphabet
Inc.’s
Google,
will
step
down
on
Feb.
5.

Dropbox
did
not
provide
details
of
a
replacement
for
the
COO.

“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,”
chief
executive
officer
Drew
Houston
said
in
a
letter
to
employees
Wednesday.

Dropbox logo
Chief
operating
officer
Olivia
Nottebohm
will
step
down
on
Feb.
5.

SOPA
Images/LightRocket
via
Getty
Images

The
San
Francisco-based
company
had
said
in
October
that
remote
work

due
to
the
COVID-19
pandemic

will
be
a
primary
experience
for
its
employees
and
its
physical
spaces
will
no
longer
be
for
daily
individual
work.


Source : Reuters Link

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