Jack Dorsey's fintech company Block to lay off 1,000 employees


Content Team
Image Credit: newsbytes

Block is cutting around 1,000 jobs, primarily impacting Cash App, Square, and core teams, as per Business Insider. The fintech giant, co-founded and headed by Jack Dorsey, had announced last year that it seeks to reduce its workforce from 13,000 to about 12,000. Block's layoffs are part of a larger trend, as numerous tech companies have reduced their workforce in the past few weeks. As per Layoffs.fyi, over 100 tech companies have fired nearly 29,000 workers this January itself.