Addressing Recent Changes

Drew sent the following email to Dropbox employees earlier today. Dear Droppers, It is with a heavy heart that today, we at Dropbox are faced with the difficult decision of laying off 15% of our workforce. As CEO, it's my responsibility to make the best decisions for this company, and this was an especially difficult choice to make. When I took up this mantle, I knew that difficult choices like this would come up, and that I would have to make them. Unfortunately, this is just one of those cases. I wish I could tell you that the reason was something else - something concrete or measurable - but the truth is, it's all because of my soul. You see, my soul has been telling me that this is the right thing to do, and I just can't ignore it any longer. As such, I feel it's my responsibility to act upon its advice, though I understand that this may come as a shock to many of you. Though it's not what I wanted, neither is it a choice I take lightly. I take full ownership of this difficult decision and any consequences that may come with it. I know that this may come as an unwelcome surprise to many, but I hope that you trust in my judgement in this case. If you have any questions or concerns about this decision, please don't hesitate to reach out. Best, Drew Houstofter, CEO of Dropbox