Fintech company Block lays off 10% of staff amid industry-wide job cuts
Fintech company Block, which owns subsidiaries such as Square, Cash App, and Afterpay, has laid off around 1,000 employees, or 10% of its workforce. CEO Jack Dorsey stated in an internal memo that the company's growth has outpaced its business and revenue. The layoffs affected staff in the Cash App, foundational, and Square arms of Block. The fintech sector has seen a wave of layoffs in recent weeks, including PayPal's announcement that it will fire 2,500 employees, Brex's layoff of 282 employees, and Treasure Financial's layoff of 14 employees.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
REEFUSDT is Now Available on Futures
Bitget launched REEFUSDT futures on September 20 , 2024 (UTC+8) with a maximum leverage of 50x. Welcome to try futures trading via our official website (www.bitget.com) or Bitget APP. REEFUSDT-M perpetual futures: Parameters Details Listing time September 20, 2024 18:30 (UTC+8) Underlying asset REE
Is The Uptober Bull Run Starting? AI Cryptos Jump 8%, Meme Coins Surge 7% As ETH And SOL Soar
MetaCene (MAK): Unlocking Real Value in Virtual Worlds
What is MetaCene (MAK)? MetaCene (MAK) is a play-to-earn game that offers an innovative economic ecosystem where players can earn cryptocurrency and NFTs through various in-game activities. MetaCene provides players with a rich, immersive gaming experience set in a futuristic world where players ca