Jack Dorsey’s Block is Reducing its Workforce
The founder of Twitter, Jack Dorsey, has made the decision to lay off over 1,000 employees at his company Block.
According to Business Insider, the company released a memo stating that a large number of employees would be let go in order to streamline operations.
The layoffs affected workers in divisions such as the Cash App, Foundational, and Square, comprising about 10% of the workforce.
In a memo, Dorsey shared that it was better to make cuts all at once rather than randomly distribute them, in order to not seem unfair to either individuals or the company. He also emphasized the importance of taking action quickly rather than prolonging the process.
This is not the first time that Block has undergone layoffs. In December, 40 employees from the music streaming app Tidal were let go. Former employees took to LinkedIn to post farewell messages.
