Jack Dorsey fires nearly 1,000 employees at Block over email

In March 2025, Jack Dorsey, the co-founder of Block, announced mass layoffs affecting nearly 1,000 employees at the fintech company, which includes services such as Cash App and Square. The decision came through an email sent to staff, detailing a multi-faceted approach to organizational restructuring aimed at improving performance and streamlining management. A total of 938 roles were set to be cut, and about 784 open positions at Block were also to be closed, barring certain critical roles. Dorsey categorized the layoffs into three main areas: 391 roles for strategic reasons, 460 due to performance evaluations, and the reduction of 80 managerial positions to flatten Block's organizational hierarchy. Although Block had faced declining stock prices and disappointing earnings, Dorsey emphasized that these layoffs were not motivated by financial issues or by the intent to replace employees with artificial intelligence, stating that the aim was to heighten performance standards. The current workforce at Block stood around 11,300 global employees prior to the cuts, and the recent layoffs are just a continuation of Dorsey’s previous actions in January 2024 when he also eliminated approximately 1,000 positions. This trend of extensive workforce reduction bears similarities to tactics employed by other tech companies, particularly exemplified by Elon Musk, who previously executed significant cuts at Twitter, now known as X, after his acquisition in late 2022. Dorsey’s approach, mimicking Musk’s controversial methods, appears to reflect a broader trend in the tech industry during challenging economic times. As the company prepares for the changes, employees have been assured of forthcoming communications regarding their specific situations. This wave of layoffs signals a turbulent time for Block, as it navigates workplace effectiveness and strategic pivots amidst a backdrop of financial uncertainty, leaving many wondering how these cuts will impact the company's overall operations and future direction.