Twitter co-founder Jack Dorsey’s fintech company Block Inc is preparing for another round of workforce reductions, with about 10 per cent of employees expected to be laid off during ongoing performance reviews, according to a Bloomberg report. The move is part of a broader effort to restructure and streamline the business as the company reassesses its operations.
Bloomberg reported that hundreds of Block employees have been informed that their roles could be at risk as the annual review cycle progresses. The company had around 11,000 employees as of the end of November. Block did not respond to media queries outside regular business hours, the report added.
From Square To Block
Block, which began its journey in 2009 under the name Square, has steadily expanded beyond payments processing. Over the years, it has built a diversified fintech ecosystem that includes peer-to-peer payments, merchant tools, and consumer-facing financial services. This transformation was underscored in July last year when Block joined the S&P 500 index, replacing Hess Corp after Chevron Corp completed its $53 billion acquisition of the energy producer.
Since 2024, the company has been reshaping its organisational structure. Bloomberg noted that Block has been adjusting staffing levels, reorganising reporting hierarchies, and outlining measures aimed at improving efficiency. A key focus has been tighter integration between its peer-to-peer payments app Cash App and its merchant-focused platform Square. Alongside this, the company continues to invest in newer ventures, including its Bitcoin mining unit Proto and an artificial intelligence tool called Goose.
Performance Reviews And Past Layoffs
This is not the first time Block has trimmed its workforce in recent years. In March 2025, the company reportedly eliminated 931 roles across its major platforms, including Square, CashApp and Tidal. At the time, Dorsey communicated the decision to employees via an internal email, emphasising that the cuts were not driven by financial stress or an attempt to replace workers with automation.
He said the layoffs were intended to sharpen execution and reduce layers of management, stating the goal was to improve overall performance rather than pursue cost-cutting alone.
AI, Efficiency And The Bigger Tech Trend
Block’s move comes amid a broader wave of job cuts across the technology sector. In January, Bloomberg reported that Amazon planned to eliminate thousands of white-collar roles across teams such as Amazon Web Services, Prime Video, human resources, and retail, with the total expected reduction reaching 30,000 positions. A Reuters report linked Amazon’s cuts partly to growing AI adoption.
However, Amazon CEO Andy Jassy pushed back on the idea that technology alone was driving the changes. During a Q3 earnings call, he told analysts the layoffs were not AI-driven or financially driven, but rather due to “culture”. He added, “You end up with a lot more people than what you had before, and you end up with a lot more layers”.
Block is scheduled to announce its quarterly earnings after market close on 26 February. Analysts expect adjusted earnings of $403 million, or 68 cents per share, on revenue of $6.25 billion, a result that will be closely watched as the company presses ahead with its overhaul, states the report.
