Block, led by Jack Dorsey, plans to lay off 1,000 employees (10% reduction) across Cash App, Afterpay, and Square subsidiaries.

Jack Dorsey's financial services company Block has announced plans to lay off around 1,000 employees. The decision, which will impact staff in the Cash App, Afterpay, and Square subsidiaries, has been justified by Dorsey in an internal memo as wanting to take such actions immediately rather than gradually. According to Insider, this marks a 10% reduction in Block's workforce. The company had previously planned to reduce its headcount from 13,000 to 12,000 by the end of this year.

January 30, 2024
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