Dorsey's Block Begins Layoffs, Cutting 10% of Staff to Refocus Business
• Block Inc., Jack Dorsey's firm, begins laying off employees as part of previously announced 10% staff cuts
• Cuts aim to reduce headcount from 13,000 to 12,000 by end of 2024
• Dorsey said in November the company's growth outpaced business and revenue growth
• Block rebranded from Square in 2021 to emphasize blockchain technology focus
• Dorsey resigned from Twitter in 2021 but remained Block's CEO, voicing bitcoin support