Jack Dorsey’s Block brings back a few workers after mass layoffs
Block has rehired a few employees shortly after conducting mass layoffs in February.Summary
At least four employees have rejoined Block after being laid off during the company's significant workforce reduction in February. Among those rehired was Chane Rennie, who leads creative strategy, returning just a week after his layoff announcement. Another engineer, Andrew Harvard, was quickly invited back after being dropped accidentally. In some cases, managers successfully lobbied leadership to bring back essential staff; for instance, Richard Hesse convinced leadership to rehire colleagues after a 40% layoff left him as the sole remaining team member for his area. Despite these rehires, the layoffs were substantial, reducing Block's workforce from over 10,000 to under 6,000. Co-founder Jack Dorsey attributed the cuts to structural and strategic changes. The event has been linked by some, like Balaji Srinivasan, to the rise of AI, suggesting a shift where smaller teams must accomplish more. This trend is affecting the broader tech and crypto industries, which are already facing a downturn, evidenced by recent layoffs at firms like Algorand.
(Source：Crypto Briefing)