Cost-Cutting Drive: Jack Dorsey’s Fintech Company to Slash 10% Jobs

Block Inc., a San Francisco-based finance company run by Jack Dorsey, is preparing for a large round of layoffs. These job cuts would reduce its worldwide staff by 10%. If this news is true, it would be the third round of layoffs at Block in the past two years. The layoffs trend indicates widespread financial caution in the IT and fintech industries. Nothing has been said by the corporation regarding the report as of now.

Who Will be Affected from the Layoffs?

The cuts will likely coincide with the ongoing year-end performance reviews that will last until February and will impact multiple divisions. As Block undertakes its yearly performance appraisals, hundreds of employees have reportedly already been notified that their roles could be disrupted.

The move is a component of a larger effort to improve efficiency, which aims to simplify the company's operations and reduce expenses in the face of a difficult operating climate. Block had around 11,000 employees globally as of the end of November, so the anticipated layoffs might impact more than a thousand positions. There has been no formal word from the corporation regarding this subject as of yet.

The previous rounds of layoffs, in March 2025 (931 jobs lost) and January 2024 (1,000 cuts), are being followed by this new round. In reaction to slowing growth, the corporation is reducing operational adjustments. The block has been undergoing a massive reorganisation effort since 2024. The goal is to reduce duplication of effort and expenses by bringing Cash App and Square closer together. A more interdependent ecology between buyers and sellers is the goal of the change. Therefore, investors consider this reorganization critical to increasing profits.

Dorsey Building its Tech Muscle

The Dorsey Group is still putting money into cutting-edge tech, including bitcoin and AI. One of its more recent endeavours is Goose, an in-house productivity tool that utilises artificial intelligence to improve workflow all around the organization. This change underscores Dorsey's long-term vision for how he wants AI to permeate Block's operations and products.

Block has wound down multiple side ventures while reorganising activities. This includes a portion of its Tidal music streaming company as well as its decentralised tech branch TBD. There has been a noticeable transition from experimental projects to core revenue streams, as evidenced by these pullbacks.