** Dropbox shares rise 2.9% to $26.58 in morning trading
** Co disclosed in regulatory filing that it is reducing its workforce by 20% globally
** DBX estimates it will make total cash expenditures of about $63 mln to $68 mln related to workforce reduction
** Expects to recognize $47 mln to $52 mln of incremental expense on severance, benefits and costs related to cutting jobs
** DBX said it expects to recognize substantially all of the incremental expense and pay a majority of the cash related to these charges in Q4 2024
** Dropbox will recognize and pay the remainder of incremental expense in H1 2025
** Co expects Q3 results in line or above its forecast
** Including session's move, stock had fallen 9.8% YTD
(Reporting by Rishi Kant in Bengaluru)
((Rishi.Kant@thomsonreuters.com))
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