Dropbox is now subleasing its office space, as the company continues to embrace remote work.
The announcement builds off of Dropbox’s Virtual First work model, which was announced during 4Q20. According to the company, the goal is to make remote work the primary experience for all employees.
“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 stated.
“We reassessed our real estate asset groups and estimated the fair value of the office space to be subleased using current market conditions.”