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Dorsey’s Block Cutting up to 10% of Staff, Bloomberg News Reports
Block Inc. plans workforce cuts of up to 10% to integrate Cash App with Square and focus on Bitcoin mining and AI tool initiatives, company restructuring continues.
- On Feb 7, Bloomberg News reported that Jack Dorsey’s Block Inc. began notifying hundreds of employees that up to 10% of the workforce could be cut during annual reviews, while Reuters could not immediately verify the report.
- Since 2024, Block has been retooling its operations, reorganizing reporting lines to operate more efficiently while integrating Cash App with Square and expanding bitcoin products like Proto and the AI tool Goose.
- With fewer than 11,000 employees, Block faces scale considerations as Square segment growth slowed to 9% in the third quarter and it missed Wall Street profit estimates this year.
- Market losses and internal headcount limits shape consequences as Block’s stock lost 23% in 2025 and dropped 14% this year while it holds a 12,000-employee cap and reported adjusted EPS 71 cents.
- Analysts project adjusted earnings of $403 million, or 68 cents per share, on revenue of $6.25 billion for the fourth-quarter earnings report, set for Feb. 26.
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The Economic Times
The Economic TimesJack Dorsey's Block cutting up to 10% of staff: Report
The company, which facilitates bitcoin purchases by acquiring the cryptocurrency and reselling it at a small premium, missed Wall Street estimates for third-quarter profit amid persistent economic uncertainty and intensifying competition in the payments sector.
·India
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Layoff news: Jack Dorsey's Block plans 10% job cuts during performance reviews amid ‘business overhaul'
Jack Dorsey's Block plans to lay off 10% of its workforce during performance reviews, with aim to “overhaul” its business, according to a Bloomberg report. Hundreds of Block workers have been informed that their jobs could be cut.
·New Delhi, India
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Coverage Details
Total News Sources21
Leaning Left1Leaning Right2Center5Last UpdatedBias Distribution62% Center
Bias Distribution
- 62% of the sources are Center
62% Center
13%
C 62%
R 25%
Factuality
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