Fintech company Block lays off 10% of staff amid industry-wide job cuts
Fintech company Block, which owns subsidiaries such as Square, Cash App, and Afterpay, has laid off around 1,000 employees, or 10% of its workforce. CEO Jack Dorsey stated in an internal memo that the company's growth has outpaced its business and revenue. The layoffs affected staff in the Cash App, foundational, and Square arms of Block. The fintech sector has seen a wave of layoffs in recent weeks, including PayPal's announcement that it will fire 2,500 employees, Brex's layoff of 282 employees, and Treasure Financial's layoff of 14 employees.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
FET Investors Bet on GoodEgg’s Long-Term Value and Pontential 100x Gains
Google Cloud Unveils New Blockchain RPC Service for Faster dApps
Solana Investors Maintain Their Focus As They Double Their Mpeppe Bag
GoodEgg’s (GEGG) Unique Features and Use Cases