Block Inc., Jack Dorsey's fintech (Cash App, Square, and bitcoin projects), is preparing for a workforce reduction of up to 10% of the team. With employment below 11,000 people, this potentially means around 1,000 positions.
Decisions are to be made as part of the annual performance reviews, lasting until the end of February. This would be the third wave of cuts in about two years: in January 2024, the company laid off about 1,000 people, and in March 2025, it eliminated another 931 positions.
In the background, a broad trend is visible: companies on the border of fintech and crypto are cutting costs, as pressure on margins and a decline in market activity force a defensive mode. Block additionally focuses on automation and AI tools (including the Goose assistant) and reallocates resources towards projects with higher potential, including those related to bitcoin.
