Jack Dorsey’s financial technology company Block Inc. is preparing to cut up to 10% of its workforce as part of a broader push to streamline operations and improve efficiency, according to a Bloomberg report citing people familiar with the matter.
The planned reductions could affect around 1,000 employees, based on Block’s headcount of just under 11,000 as of late 2025. Employees have been informed internally that roles are currently under review as part of the company’s annual performance evaluation process, with final decisions expected in the coming weeks.
The move represents the latest step in a multi-year restructuring effort at Block, which operates major platforms including Square, Cash App, and several Bitcoin-focused initiatives. The company has been working to simplify its organizational structure, better integrate teams, and redirect resources toward higher-growth and more profitable areas of the business.
As part of this strategy, Block has also increased its focus on automation and internal productivity tools. One example is its in-house artificial intelligence assistant, known as Goose, which is designed to improve efficiency and help the company scale operations with tighter cost controls.
Block has previously stated that it aims to strike a balance between continued investment in growth and stricter discipline on expenses. The timing of the potential layoffs comes as the company faces a more challenging operating environment. Growth in its Square merchant business has slowed amid ongoing pressure on small businesses, while competition across digital payments and financial services remains intense.
The workforce review also comes ahead of Block’s upcoming fourth-quarter earnings report, scheduled for later this month. Investors are expected to closely monitor the company’s margins, cost management efforts, and progress toward its long-term targets, which include sustained gross profit growth through the second half of the decade.
