Block begins layoffs under a previously disclosed plan to cut staff by up to 10%, by imposing an "absolute cap" of a 12K headcount, which was 13K in Q3 2023 (Sam Kessler/CoinDesk)

Sam Kessler / CoinDesk:

Block begins layoffs under a previously disclosed plan to cut staff by up to 10%, by imposing an “absolute cap” of a 12K headcount, which was 13K in Q3 2023  —  The company plans to drastically reduce its headcount throughout 2024 through a series of layoffs and reorganizing measures.