We read the email Jack Dorsey sent when he cut 931 of Block's staff | TechCrunch
Mar 25, 2025 - techcrunch.com
Fintech company Block, led by co-founder and CEO Jack Dorsey, laid off 931 employees as part of organizational changes. The layoffs were communicated via an email from Dorsey, who stated that the cuts were not financially motivated or aimed at replacing workers with AI. Instead, the reductions were attributed to strategic shifts and performance evaluations. The layoffs affected three main areas: 391 roles for strategic reasons, 460 for performance-related reasons, and 80 managerial positions to flatten the company's hierarchy. Additionally, 193 managers are being reassigned to individual contributor roles. Block is also closing 748 open positions, except for those in critical operations or key leadership roles.
Before these layoffs, Block had approximately 12,000 employees. This is not the first time the company has reduced its workforce, having cut around 1,000 roles in January 2024. Block, which owns Cash App and Square, provides mobile payment services and point-of-sale solutions. The company has not yet responded to requests for comment on the recent layoffs.
Key takeaways:
Fintech Block laid off 931 employees, announced by CEO Jack Dorsey, citing strategic changes and performance issues.
The layoffs are categorized into three groups: strategy (391 people), performance (460 people), and management (80 people).
Block is closing 748 open roles, except for those at the offer stage or in critical operations and leadership positions.
Dorsey denies that the layoffs are financially motivated or related to replacing workers with AI.
