Fintech company Block Inc., headed by co-founder Jack Dorsey, is reportedly planning a significant restructuring effort that could involve reducing its workforce by as much as 10%. The potential job cuts are part of a wider business overhaul intended to streamline operations, reduce corporate expenses, and focus on the most profitable core products, including Cash App and the Square seller ecosystem. According to individuals familiar with the situation, the company is aiming to optimize efficiency following years of rapid expansion. This move aligns with a broader industry trend among major technology firms that are adjusting staffing levels after aggressive hiring during the pandemic era. While specific timelines and affected departments have not been officially disclosed, the reported cuts signal a push towards tighter fiscal management at the payments giant.
Source: Jack Dorsey’s Block may cut up to 10% of staff in business overhaul: Report
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