US EditionJack Dorsey’s fintech venture lays off nearly 1,000 employees over email, report says
- Block Inc has laid off 931 employees, which is about 8% of its workforce, according to reports.
- Jack Dorsey explained that 391 layoffs were for 'strategy' reasons and 460 were related to 'performance' issues.
- Block is closing all 748 open roles except for certain critical positions, according to Dorsey.
- Dorsey stated that the company is making organizational changes and starting consultation processes where necessary.
26 Articles
26 Articles
Daily Camera
Estes Park Trail-GazetteTwitter founder’s fin-tech Block lays off Colorado remote workers
Block Inc. (NYSE: XYZ), Twitter founder Jack Dorsey’s financial-technology firm, is laying off remote workers in Colorado as part of a broader reduction in the company’s employee count. In a Worker Adjustment and Retraining Notification Act notice filed this week with the Colorado Department of Labor, Block, which owns digital wallet platform Cash App, point-of-sale payment platform Square and music streamer Tidal, wrote that it is “permanently …
Cash App parent company to lay off dozens of remote workers in Missouri
KANSAS CITY, Mo. — On Thursday, Block, Inc – the parent company of financial services including Cash App and Square – filed a warn notice with the state of Missouri, saying it plans to lay off 67 workers across the state. The layoffs will impact remote workers and are set to take effect by May 24. On Tuesday, TechCrunch reported that Block plans to lay off nearly 1,000 workers nationwide, which makes up about 8% of its workforce. Block's CEO an…
Block laying off over 900 people, according to reports
SAN FRANCISCO (KRON) -- Block, the fintech company founded by former Twitter CEO, is laying off 8 percent of its staff, according to a report in TechCrunch. The layoffs will impact 931 people. About 240 remote workers in California are among those whose jobs will be cut, according to a separate report in the San Francisco Chronicle. TechCrunch, citing an email to staff from Dorsey, said the CEO and co-founder said the company would be "making so…
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