Jack Dorsey's Block to lay off 1,100 employees: Report
Block, the fintech company started by Jack Dorsey, is gearing up to cut around 10% of its staff—meaning about 1,100 people could lose their jobs.
The move is part of a bigger shake-up to save $235 million a year and keep the team under a self-imposed 12,000-employee limit.
This follows earlier rounds of cuts and comes as Block tries to streamline operations.
Layoffs reflect major shifts in Block's strategy
These layoffs are tied to major changes inside the company: Cash App and Square are merging closer together, there's new focus on Bitcoin mining through Proto, and they're building an AI tool called Goose.
Earlier rounds saw hundreds laid off from teams that didn't fit the new strategy or due to performance issues—plus some managers let go to flatten the hierarchy.
Despite cuts, Block's stock struggles and revenue outlook
Even with job cuts making headlines, Block's shares have declined 13% year-to-date (2026) and 34% over the 12 months ending February 2026.
Revenue is expected at $6.25 billion ahead of next week's earnings report.
And get this: Block has been emphasizing Bitcoin-related initiatives.