Jack Dorsey’s Block conducts layoffs — again | Business Insider – LinkedIn

Business Insider’s Post Block is cutting jobs for the second time this year, days after reporting better-than-expected earnings. Read more in today’s edition of Business Insider Today. #block #layoffs #jobcuts Jack Dorsey’s Block conducts layoffs — again Business Insider on LinkedIn I can’t ethically understand the connection. Better than expected earnings and you lay people off? didn’t those people participate and help drive those earnings? Their reward for hard work is a pink slip. It just doesn’t make sense to me. Who is getting all the profit, if those who helped produce it get cut? I like Jack Dorsey but I cannot support this logic. Jack Dorsey’s Block executing its second major wave of workforce reductions this year—trimming additional roles across Cash App and Square after a massive restructuring earlier in the year—highlights the cold reality behind tech sector labor cuts. Framing aggressive headcount reductions around “AI and intelligence tools changing business operations” makes for a compelling public narrative, but institutional observers recognize the underlying balance-sheet imperative: defending non-GAAP operating income when transaction volume growth slows down. When a fintech giant targets hundreds of millions in annualized cost savings through repeated layoff rounds, it exposes how bloated corporate overhead became
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