Payments firm Block Inc., led by Jack Dorsey, is preparing to cut as much as 10% of its workforce as it pushes deeper into an efficiency drive, according to a report from Bloomberg.
The notifications arrive as Block continues a multi-year effort to streamline operations following internal restructurings that began in 2024. The company did not immediately respond to Bloomberg’s request for comment outside regular business hours, keeping official details scarce as the review process unfolds behind closed doors. The planned cuts come alongside a broader business overhaul aimed at tightening execution and sharpening focus across Block’s sprawling portfolio.
FAQ How many employees could Block cut? Block Inc. may reduce its workforce by up to 10%, affecting hundreds of employees. Why is Block considering layoffs now? The potential cuts are tied to an efficiency push and a broader restructuring effort underway since 2024. When will the job cuts take place? Notifications began during annual performance reviews in early February, with timing tied to internal evaluations. What’s next for Block financially? Block is scheduled to report earnings after U.S. markets close on Feb. 26.
