Posted 2/22/2024, 2:55:18 PM
Block to Cut 112 Jobs Amid Tech Layoffs, Committing to 12K Staff by 2024
- Block Inc plans to cut 112 jobs on March 30 as part of previously disclosed cost-cutting efforts
- Cuts come amid economic uncertainty and job losses at other big tech companies like Amazon, Alphabet, and Microsoft
- Block owns payment company Square and music streaming service Tidal
- Company committing to reduce staff to 12,000 by end of 2024, down from over 13,000 currently
- Block will report Q4 earnings on Thursday after facing criticism last year over user numbers and costs from short-seller Hindenburg