The tech industry’s layoffs and hiring freezes: all of the news
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Jack Dorsey’s Block is cutting jobs (again).
The company — which owns Square, CashApp, and Tidal — is reportedly laying off over 930 employees and closing its open roles. It’s the company’s second recent layoff, after cutting similar numbers in early 2024. Dorsey explained the cuts in an email sent to staff and shared by TechCrunch:
None of the above points are trying to hit a specific financial target, replacing folks with AI, or changing our headcount cap. They are specific to our needs around strategy, raising the bar and acting faster on performance, and flattening our org so we can move faster and with less abstraction.
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