931 employees lost their jobs in Twitter co-founder’s company, reason given

Block’s co-founder and former CEO Jack Dorsey has announced that the company will reduce 931 jobs. The company is drastically reducing its workforce for the second time in a year. The job cuts will affect employees on widely used platforms including Square, CashApp and Tidal. Let’s know about it in detail.

According to the Times of India report, Dorsey gave this information to employees through an internal email on Tuesday. During this, he told that the reason for the job cuts is not financial or artificial intelligence. Instead, he said that the cuts are part of streamlining operations, improving performance and reducing managerial layers.

The report said that the 931 job cuts will be in three categories, in which 391 roles will be eliminated as a part of reworking the strategy, 460 employees are losing their jobs due to performance and 80 management positions will be eliminated to fix the organizational structure. Apart from this, 193 managers will work as individuals.

Along with the layoffs, Block has announced that it will also close 748 vacant vacancies, except for those roles that have already reached the offer phase, operations roles and leadership positions. According to the report, Dorsey stressed the need for job cuts, saying that Block is slow to keep up with the fast-moving industry. He wrote that “we are behind in our work and this is not good for the people working here or the company.” He called the changes necessary to keep Block competitive in the market. Let us tell you that the company had also cut about 1 thousand jobs in 2024. As of December 2024, Block had employed about 11,300 people worldwide.