📉 Jack Dorsey's Payment Company Block Inc. has begun informing employees about potential job cuts during the annual performance reviews.
✅ It is reported that the layoffs could affect up to 10% of Block's approximately 11,000 employees.
Against this backdrop, Block Inc. shares rose by 5% to $56, as the layoffs are expected to help reduce costs if the company can successfully restructure and align its product lines.
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🟠 Jack Dorsey Announces Layoffs
📉 Jack Dorsey's Payment Company Block Inc. has begun informing employees about potential job cuts during the annual performance reviews.
✅ It is reported that the layoffs could affect up to 10% of Block's approximately 11,000 employees.
Against this backdrop, Block Inc. shares rose by 5% to $56, as the layoffs are expected to help reduce costs if the company can successfully restructure and align its product lines.