Block Inc. to Cut 10% of Staff Amid Business Overhaul

Jack Dorsey's Block Inc. is cutting up to 10% of its workforce, affecting hundreds of employees, as the company embarks on a broader business overhaul. Block is reorganizing its business model and staffing since 2024, integrating peer-to-peer payments and merchant services, while growing other initiatives like Bitcoin mining and artificial intelligence tools. The company is set to report earnings on Feb. 26, with analysts expecting adjusted earnings of $403 million and revenue of $6.25 billion.