Block plans another round of layoffs | PaymentsSource – American Banker

Drew Angerer/Photographer: Drew Angerer/Getty Key insights: Block is planning another round of layoffs that are expected to come in tandem with annual performance reviews.  What’s at stake: Jack Dorsey’s payments company has been looking to reduce its staff in a push to reduce costs. Block has laid off employees at the top of the year in 2025 and 2024 following a self-imposed employee cap of 12,000 in November 2023.  Forward look: Block reports its fourth-quarter and full-year earnings on Feb. 26 after market close.  Payments fintech Block is planning another round of layoffs as the company continues to push cost-cutting efforts.  Processing Content The layoffs come in tandem with the company’s annual performance reviews, and affect employees across multiple teams. Block did not provide details on downsizing to American Banker. The latest round of job cuts marks the third year in a row that Block has undertaken early year layoffs following a self-imposed cap of 12,000 employees it instituted in 2023. Last March, Block cut 931 people , or about 8% of its staff, and in January 2024, laid off approximately 1,000 employers, or roughly 8% of its staff.  As of Dec. 31, 2024, Block had 11,372 full-time employees worldwide with
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