Drrop Pub Box X Inc. Co-founder Drew Houston awaits as Dropbox (DBX) is listed for the company’s initial public offering offering (IPO) on March 23, 2018 at the Nasdaq Market site in New York, USA.
Lucas Jackson | Reuters
Drrop Pub Box X will reduce its global workforce by about 11%, the company said in an 8K filing released Wednesday. In the morning, the stock of DRD Pub Box X fell by more than 3.5%.
The move will affect 315 people, who will be notified by the end of the business day.
“The steps we’re taking today are painful, but necessary,” Drew Houston, CEO of Drrop Pub Box X, said in an employee memo on Wednesday. Drrop Pub Box X is committed to job security by 2020, but Houston said looking forward to this year “it is clear that we need to make changes to create a healthy and prosperous business for the future.”
The company said the job cut will help it focus on its top priorities for the year, including developing the main draw which pub box experience, investing in new products and running operational excellence.
In October the drawbox moved to the pub box x standard remote work policy, which will remain in place even after the end of the Covid-19 epidemic. For employees who need to work face-to-face, the company said it would open “drorop pub box x studios” in San Francisco, Seattle, InStin and Dublin while it is safe to do so.
“Our new leadership structure and our recent decisions on the remote work policy have moved us in the right direction, and we now need to make sure that our teams and investments are also connected. For example, our Virtual First policy means that we Less resources are needed. We have an office fee environment, so we’re putting that investment behind us and redesigning those resources to drive our ambitious product guidelines, “Houston said.
Drrop Pub Box X also announced that Chief Operating Officer Fischer Ol Livia Nottohome will leave the company on February 5.
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