[Bitcoin Payment Company Block, Founded by Jack Dorsey, Plans to Lay Off 10% of Workforce] According to Cointelegraph, Bitcoin payment company Block, founded by Jack Dorsey, is undergoing a broader restructuring and has begun notifying hundreds of employees that their positions may be eliminated during the annual performance review. It is reported that the layoff ratio could reach approximately 10%. Block initiated a restructuring plan in 2024 aimed at improving efficiency and realigning its product lines. The company is working to more closely integrate its peer-to-peer payment platform, Cash App, with its merchant services division, Square. It is reported that Block plans to release its quarterly earnings report on February 26.