Block becomes the latest fintech to lay off workers
SQBLOCK(SQ) TechCrunch·2024-01-31 05:56

Block, the fintech company whose subsidiaries include Square, Cash App and Afterpay, is laying off staff at a tumultuous time for tech industry workers. That’s according to an internal memo from CEO Jack Dorsey, obtained first by Business Insider, which states that “the growth of [Block] has far outpaced the growth of … business and revenue.” The layoffs were executed this morning and affected staff in the Cash App, foundational and Square arms of Block. Reportedly, around 1,000 people — or 10% of Block’s h ...