DropBox Spends $100k on chrome statue

Dropbox, a popular file sharing company based in San Francisco, began to cut on its company employee perks in March 2016. Some of these cutbacks included shuttle service from San Francisco, and gym washing service, along with lavish parties, bonuses, and free lunches. A company wide email was sent to Dropbox employees notifying of the inevitable perk cutbacks. The email also said these little fringe benefits cost roughly $25,000 per employee each year, and there are around 1,500 total employees, so the savings should be close to $38 million per year. That's a lot of savings.

A month after the email was sent, Dropbox employees came to work and were greeted with a 5-foot-tall panda statue made of chrome. Why a panda you might ask? The panda is the mascot of the company. The chrome statue is supposed to symbolize Dropbox's stamp of approval in Silicon Valley and acceptance among the Valley's elite. However, next to the statue someone posted a note reading,

Pandas have meant many things to Dropboxers over the years, and the idea here was to commemorate the original; it wasn't the right call," the note said. "When it comes to building a healthy and sustainable business, every dollar counts. And while it's okay for us to have nice things, it's important to remember to ask ourselves, "would I spend my own money this way?"

What are your thoughts on Dropbox cutting employee perks, then purchasing a chrome panda statue for all to see?