[Jack Dorsey's Block Plans to Lay Off 10% of Workforce] BlockBeats reports that on February 8, according to Cointelegraph, Jack Dorsey's Bitcoin payment company Block is undergoing a broader restructuring. The company 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 as high as 10%. Block launched a restructuring plan in 2024 aimed at improving efficiency and adjusting 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. Block is reportedly planning to release its quarterly earnings report on February 26. Analysts predict Block's fourth-quarter profit will reach $403 million, with revenue hitting $6.25 billion.