Jack Dorsey’s company, Block Inc. , is cutting jobs to reduce the number of employees by the end of the year.
Block is planning to slowly reduce the number of people working for them. They currently have about 13,000 employees and want to have 10% fewer in the future.
The company wants to have no more than 12,000 employees by 2024.
Jack Dorsey has decided to lay off some of the employees
CEO Jack Dorsey told Block staff that the company is going to lay off some of its employees.
According to a note from Business Insider, Dorsey, who helped start Twitter, didn’t say exactly how many employees were affected, but someone who knows about it said it was almost 1,000.
The job cuts mainly impacted workers in different parts of Block’s company, including Cash App, Foundational, and Square. Dorsey said that these actions were part of a bigger plan to make the company run more smoothly and effectively.
“Today our Cash App, Foundational, and Square teams are saying goodbye to many of our team members,” said Dorsey in the message.
“Last year, each team spent some time looking at how they can do better and be more focused on important things, after I sent an email about what we need to improve on. “
Block is going to lay off more people.
Block announced in November 2023 that it plans to reduce its number of employees.
The company is laying off more people for the second time in just two months. Before, in December, Block fired 40 workers, mostly from its Tidal music streaming service department.
Dorsey asked why there was so much happening in just one day. “All the teams were sure about their plans and ready to start within the next 2-3 weeks. ”
Dorsey said that when we know we need to do something, we should do it right away instead of waiting forever.
