Bloomberg reported this weekend that Block has begun notifying hundreds of employees during annual performance reviews that their roles may be eliminated, citing people familiar with the matter who requested anonymity. The potential reductions could affect up to 10% of the company’s staff, which stood at fewer than 11,000 employees as of late November.
The notifications arrive as Block continues a multi-year effort to streamline operations following internal restructurings that began in 2024. The company did not immediately respond to Bloomberg’s request for comment outside regular business hours, keeping official details scarce as the review process unfolds behind closed doors. The planned cuts come alongside a broader business overhaul aimed at tightening execution and sharpening focus across Block’s sprawling portfolio.
The company has been working to better integrate Cash App with Square, its merchant services arm, while also investing in newer initiatives such as bitcoin mining unit Proto and its artificial intelligence (AI) tool, Goose. Block is scheduled to report earnings after markets close on Feb. 26, with analysts expecting adjusted fourth-quarter earnings of $403 million, or 68 cents per share, on revenue of $6.25 billion. For investors and employees alike, the timing makes the message clear: efficiency now, explanations later.
- How many employees could Block cut?
Block Inc. may reduce its workforce by up to 10%, affecting hundreds of employees. - Why is Block considering layoffs now?
The potential cuts are tied to an efficiency push and a broader restructuring effort underway since 2024. - When will the job cuts take place?
Notifications began during annual performance reviews in early February, with timing tied to internal evaluations. - What’s next for Block financially?
Block is scheduled to report earnings after U.S. markets close on Feb. 26.
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