Dropbox Inc., a San Francisco-based technology firm that designs and develops document management software, said it will sublease a portion of its office space as it trims jobs as part of a transition to a remote-work model.
The move comes as Dropbox and other technology companies such as Salesforce have decided to permanently allow employees to work from home in reaction to the coronavirus pandemic.
The firm said in October that it planned to shift to a “virtual first company,” where remote work outside an office “will be the primary experience for all employees and the day-to-day default for individual workers.”
“As part of the Virtual First strategy, we will retain a portion of our office space to be used for team collaboration and a portion will be marketed for sublease, the company said in its fourth-quarter earnings release published on its website.
Dropbox laid off 11 percent of its workforce last month, saying it now needs fewer resources.