Layoffs of over 4,000, approaching half, and the stock price surprisingly rose by 21%. Do you think this is normal? When this news came out this morning, I had to refresh twice before I realized it. Block— the crypto financial company founded by Jack Dorsey— announced layoffs of nearly half. From over 10,000 employees down to less than 6,000, more than 4,000 people are leaving. Then, the stock price rose by 21% after hours.
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Layoffs of over 4,000, approaching half, and the stock price surprisingly rose by 21%. Do you think this is normal? When this news came out this morning, I had to refresh twice before I realized it. Block— the crypto financial company founded by Jack Dorsey— announced layoffs of nearly half. From over 10,000 employees down to less than 6,000, more than 4,000 people are leaving. Then, the stock price rose by 21% after hours.