TechFlow news, Block, the blockchain and payments company led by Twitter founder Jack Dorsey, has confirmed it has begun implementing a workforce reduction plan aimed at cutting up to 10% of its employees by the end of 2024.
During last year's earnings call, Block stated it would reduce its workforce from 13,000 employees in the third quarter of 2023 to an "absolute ceiling" of 12,000 by the end of this year.
Block owns companies including Square, Cash App, and Tidal, as well as TBD, its Bitcoin-focused division.
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