Block reportedly lays off almost 1,000 employees

7 months ago 8

Block has laid off 931 workers, which make up around eight percent of its entire staff, according to TechCrunch and The Guardian. The publications have viewed an email, wherein the financial technology company's co-founder and CEO, Jack Dorsey, has discussed the latest organizational changes. Dorsey said that Block is eliminating roles based on three areas, starting with strategy. The company is letting 391 people go, because it's reducing "teams that are off strategy." It's also parting ways with 460 workers who scored a "below" rating or are trending towards a "below" rating in its internal performance tracking metrics.

Finally, Block is laying off 80 managers, as well as moving 193 to individual contributor roles, to flatt...

Source: https://www.engadget.com/big-tech/block-reportedly-lays-off-almost-1000-employees-130056952.html?src=rss

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