Jack Dorsey’s Block lays off 10% of staff
Block, owned by Twitter founder Jack Dorsey, has laid off large-scale layoffs of more than 1,000 employees. Block is reportedly terminating 10% of staff in a move meant to purge “a large number of teammates” to streamline operations, according to a memo seen by Business Insider. The layoffs, which occurred throughout January, affected employees of the Cash App, Foundational and Square divisions, affecting approximately 10% of the staff , the report further specified. “We decided it would be better to do at once rather than arbitrarily space them out, which didn’t seem fair to the individuals or to the company <…> When we know we need to take an action, we want to take it immediately, rather than let things linger on forever.” Jack Dorsey, Block co-founder This is Block’s second wave of layoffs in two months: in December 2023, the company cut 40 people working on music streaming app Tidal. Several former Block employees posted farewell messages on LinkedIn...