Dropbox CEO: ‘Tech companies should plan for things to get worse’

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Dropbox co-founder and chief executive Drew Houston expects his company to ride out the current wave of cuts in the sector, but is less confident about the broader prospects for the tech industry

An excess of overhiring was cited by Drew Houston, founder and chief executive of Dropbox, as a key factor in the current wave of redundancies across the tech sector globally.

“A lot of Covid beneficiary companies saw explosive growth and an equally fast decline with overhiring,” Houston told the Business Post. “It’s a tough environment. You have to plan for it to be worse. Nobody really knows where things will be in the next few ...

 

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