Jack Dorsey Announces Layoffs…
📉 Jack Dorsey’s payments company Block Inc. has begun notifying employees about potential job cuts as part of its annual performance review process.
✅ Reports indicate that up to 10% of Block’s workforce could be affected roughly 1,100 employees out of about 11,000.
📈 Against this backdrop, Block Inc. shares rose 5% to $56, as investors expect the layoffs to help reduce costs, provided the company successfully executes its restructuring and aligns its product lines effectively.
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