Jack Dorsey Announces Major Workforce Reduction at Block, Affecting Nearly Half of Employees

Multiple reputable sources with high authority and relevance, including direct company communications and mainstream financial reporting, consistently state that Jack Dorsey announced Block will reduce its workforce by nearly 50%. Coverage from outlets such as CNBC, Reuters, Yahoo Finance, and Business Insider cite or reproduce Dorsey’s own statements and internal memo tied to the company’s earnings report. The event was described as a strategic move for efficiency and tied to Block’s Q4 performance. No credible source contradicts the claim, though a minor discrepancy exists where one secondary report cites a 40% figure, which likely reflects an early or rounded estimate rather than a contradiction. The convergence across primary and secondary reporting strongly supports that Jack Dorsey personally announced substantial layoffs approximating half of Block’s staff. Therefore, the evidence indicates the statement is accurate with high confidence.