BUZZ-Dropbox rises amid workforce reduction

Reuters

Oct 30, 2024

** 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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above its forecast</p><p>   ** Including session's move, stock had fallen 9.8% YTD</p><p> (Reporting by Rishi Kant in Bengaluru)</p><p>((Rishi.Kant@thomsonreuters.com))</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU0444971666.USD","symbol_name":"天利全球科技基金","start_time":0,"source_url":"https://api.rkd.refinitiv.com/api/News/News.svc/REST/News_1/RetrieveStoryML_1","article_id":"2479478557","we_media_id":"1036604489","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2479478557","pubTimestamp":1730296415,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"summary":"** Dropbox shares    rise 2.9% to 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