Fintech firm, operating CashApp, Square and Tidal, to close nearly 800 open jobs in second such move in just over a yearBlock, Jack Dorsey’s financial technology company, plans to let go almost 1,000 current employees, while making other changes to its operations in its second such move in just over a year.Dorsey, who co-founded and previously ran Twitter before co-founding Block in 2009, informed employees of the impending cuts on Tuesday in an email, viewed by the Guardian, titled “smaller block”. The layoffs will impact more than 930 employees, with another nearly 200 managers being moved into non-management roles, and another nearly 800 open jobs will be closed, according to the email. Continue reading...
Jack Dorsey's Block will lay off approximately 1,000 employees and close nearly 800 open positions as part of a second reorganization in just over a year. The layoffs aim to improve performance, flatten the organization, and increase the company's stock value, according to Dorsey.
