Jack Dorsey’s Block looking to cut up to 10% of workforce in latest efficiency push: Bloomberg
Block Inc. is planning to lay off up to 10% of its staff as part of a major business overhaul aimed at efficiency.Summary
Block Inc., the fintech company led by Jack Dorsey that owns Cash App and Square, is reportedly preparing to cut up to 10% of its workforce, according to Bloomberg. These cuts are part of a broader business overhaul and come as managers conduct year-end performance evaluations. This marks the third significant reduction in staff for Block in about two years, following previous layoffs in March 2025 and January 2024. The company has been restructuring since 2024, integrating its services and scaling back on ventures like its decentralized tech arm TBD, while prioritizing bitcoin mining. Despite projecting strong gross profit growth through 2028 and increasing its share repurchase program in late 2025, Block's recent earnings have been mixed, missing revenue and EPS estimates in Q3. These layoffs occur amid a broader trend of corporate job cuts across the U.S.
(Source：The Block)