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The firm has informed numerous employees that their positions may be in jeopardy as part of a larger restructuring effort.
Block CEO Jack Dorsey (Joe Raedle/Getty Images modified by CoinDesk)
Key points:
- Block, the company led by Jack Dorsey and owner of Cash App and Square, is contemplating a reduction of up to 10% of its workforce as part of a comprehensive business restructuring, as reported by Bloomberg.
- The firm, which also manages bitcoin-related divisions such as Bitkey, Proto, and Spiral, has alerted hundreds of employees that their positions could be affected.
- Block’s shares have decreased by 14% this year after a decline of over 20% in 2025, and the company is expected to release its fourth-quarter results on February 26.
Block Inc. (XYZ), the payments company overseen by Jack Dorsey, might reduce its staff by as much as 10%, according to Bloomberg, referencing sources familiar with the situation.
Hundreds of employees at the bitcoin -supporting owner of Cash App and Square have been informed that their roles may be in jeopardy, as stated by Bloomberg. The evaluations are part of a more extensive reorganization of the company’s operations based in Oakland, California.
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In addition to the payment applications that facilitate transactions in bitcoin for users and businesses, Block also offers Bitkey, a self-custody hardware wallet for bitcoin, and Proto, which provides a range of bitcoin mining products and services. Its Spiral division develops and funds open-source projects aimed at promoting bitcoin usage.
The firm established a workforce cap of 12,000 in 2023 and reaffirmed this target in its third-quarter earnings report. It employed fewer than 11,000 individuals in November, as reported by Bloomberg.
Stock values for the company have declined by 14% this year, while the S&P 500 index, which Block joined in July, increased by 1.27%. The stock lost 23% in 2025.
Block is anticipated to announce its fourth-quarter earnings on February 26, with adjusted earnings expected to be around $403 million, equating to 68 cents per share, according to Bloomberg. The company reported adjusted EPS of 71 cents in the fourth quarter of 2024.
The organization did not reply to an emailed inquiry for comment sent outside of standard U.S. business hours.
