Jack Dorsey's Block Plans to Lay Off 10%
By: theblockbeats.news|2026/02/08 16:10:11
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BlockBeats News, February 8th. According to Cointelegraph, Jack Dorsey's Bitcoin payment company Block is undergoing a broader restructuring. The company has started notifying hundreds of employees that their positions may be eliminated in the annual performance review, with layoffs potentially reaching up to 10%.
Block initiated a restructuring plan in 2024 to improve efficiency and adjust its product line. The company is focused on more closely integrating its peer-to-peer payment platform Cash App with its Square merchant services division. Block is expected to release its quarterly earnings report on February 26th. Analysts predict that Block's fourth-quarter profit will reach $403 million, with revenue hitting $6.25 billion.
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