"Block Inc. Initiates Layoffs to Reach 12,000 Employee Cap"
TL;DR Summary
Block Inc., led by Jack Dorsey, has initiated layoffs as part of its plan to reduce staff by up to 10% by the end of 2024, citing the company's rapid growth outpacing its business and revenue growth. The company, formerly known as Square, aims to reach its headcount target gradually through performance adjustments and reorganizing measures, as it focuses on blockchain technology and bitcoin-related ventures.
- Jack Dorsey's Block Inc. Begins Layoffs Under Previously Disclosed Plan to Cut Staff by 10% CoinDesk
- Block (SQ) Begins Job Cuts to Achieve Cap of 12,000 Employees Bloomberg
- Jack Dorsey’s Block starts cutting jobs under previously disclosed plan – source ThePrint
- Jack Dorsey’s Block Cuts Jobs to Achieve Cap of 12,000 Staffers BNN Bloomberg
- Jack Dorsey's Block announces layoffs, citing 'leaner' operations Cointelegraph
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