Twitter founder's payment company Block has started a plan to reduce its workforce by 10%, says Jack Dorsey, ``The company has become too large for the growth of the business.''
Jack Dorsey's Block starts cutting jobs under previously disclosed plan - source | Reuters
https://www.reuters.com/technology/jack-dorseys-block-starts-cutting-jobs-under-previously-disclosed-plan-source-2024-01-30/
Jack Dorsey's Block Inc. Begins Layoffs Under Previously Disclosed Plan to Cut Staff by 10%
https://www.coindesk.com/business/2024/01/30/jack-dorseys-block-inc-begins-layoffs-under-previously-disclosed-plan-to-cut-staff-by-10/
Block is a company founded in 2009 by Jack Dorsey. The company name at the time of establishment was 'Square', but the company name was changed to 'Block' in 2021.
Payment service 'Square' changes company name to 'Block' - GIGAZINE
Block operates a variety of brands including the payment service `` Square ,'' the person-to-person money transfer app `` Cash App ,'' and the blockchain-related development platform `` TBD .'' Among them, the payment service Square is widely known, and in Japan, Square's payment system has been introduced at many retail stores.
It has been newly revealed that Block will begin laying off employees in the last week of January 2024. According to reports, Block said at its 2023 Q3 earnings conference held in November 2023, ``We have 13,000 employees, but we will reduce our workforce by up to 10% by the end of 2024.'' It was stated that. The latest layoffs are seen as part of a layoff plan announced for 2023.
In addition, in November 2023, it was reported that Jack Dorsey sent a message to employees saying, ``The size of our company is outpacing our business and revenue growth.'' For this reason, Block's layoff plan is seen as an attempt to slim down the company.
Related Posts:
in Note, Posted by log1o_hf