PANews February 8 News, according to Cointelegraph, due to Bitcoin payment company Block founded by Jack Dorsey undergoing a broader restructuring, the company has begun notifying hundreds of employees that their positions may be cut during the annual performance review, with the layoffs reportedly reaching approximately 10%.
Block has initiated a restructuring plan in 2024 aimed at improving efficiency and adjusting its product lines. The company is working to integrate its peer-to-peer payment platform Cash App more closely with its merchant services division Square. It is reported that Block plans to release its quarterly earnings report on February 26.
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