[Jack Dorsey Responds to Layoffs: Admits to Over-Hiring Previously] According to a report by Jinse Finance, in response to the community's claim that 'Block's layoffs were primarily due to over-hiring during the COVID-19 pandemic and poor management,' former Twitter founder Jack Dorsey responded on the X platform, stating: 'Yes, during the pandemic, we mistakenly established two separate company structures (Square and Cash App), which led to over-hiring. However, this issue was corrected by mid-2024. But this does not fully address the complexities we face in lending, banking, and BNPL (Buy Now, Pay Later). Our current goal is to achieve gross profit of over $2 million per person, which is four times the efficiency we had before the pandemic. That efficiency, from 2019 to 2024, has consistently remained at around $500,000. In fact, we are operating a highly efficient company that surpasses most others.'