Dropbox, Inc. (DBX) Wednesday announced that it expects its third-quarter financial results to be in-line with or above its guidance ranges for revenue, constant currency revenue, and adjusted operating margin.
Dropbox also announced a reduction of its global workforce by approximately 20% to streamline its team structure to better align with its long-term growth initiatives and profitability objectives.
Dropbox estimates that it will make total cash expenditures of around $63 million to $68 million in connection with the reduction in force, primarily consisting of severance payments, employee benefits and related costs.
Severance payments will include the pro rata amount of the fiscal year 2024 annual employee bonus amounts through October 30, 2024, for which the company has accrued compensation expense.
The company expects to recognize $47 million to $52 million of incremental expense related to the aforementioned severance, benefits and related costs.
While reporting its second quarter results, the company has issued a third-quarter outlook of $635 million to $638 million and operating margin of about 32%.
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June 19, 2026 16:46 ET Major central banks continued to dominate the economic news flow this week too, led by the Federal Reserve, as they announced their latest policy decisions. The Federal Reserve policy session was in focus as it was the first to be led by the new chief Kevin Warsh. In Europe, central banks of the U.K. and Switzerland announced their rate decisions. In Asia, the Bank of Japan drew attention for its policy moves, while data out of China threw some light on the state of the economy.