Block lets go of 1,000 employees |
Jack Dorsey, co-founder of Block, the company which operates payment platforms Square and Afterpay, the money transfer app CashApp, and the music streaming service Tidal, has announced the termination of approximately 1,000 employees via email, saying that the job losses are not due to financial constraints or increased AI usage. Dorsey wrote that the reorganization is about “raising the bar and acting faster on performance, and flattening our org so we can move fast and with less abstraction . . . we need to move faster to stay ahead of the transformational moment our industry is in, so we’re able to continue increasing access, openness and automation.” |
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