Block, the Jack Dorsey-led payments group behind Cash App and Square, is reportedly preparing to cut its global headcount by as much as 10%, according to Bloomberg.
The company has already told several hundred staff that their positions may be at risk as part of its annual performance review process, people familiar with the plans told the publication.
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Those reviews, which run through February, are understood to be tied to a broader effort to reshape the business and reduce costs.
Block employed just under 11,000 people worldwide as of late November, an executive said at the time, implying that a 10% reduction could affect more than 1,000 roles.
The potential cuts are expected to span multiple divisions.
If carried out, this would be the third round of workforce reductions at Block in two years, following 1,000 job cuts in January 2024 and a further 931 roles eliminated in March 2025.
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By GlobalDataThe company has been overhauling its operating model and organisational structure since 2024, including changes to reporting lines and a stated push to “operate more efficiently”.
A central element of that shift has been closer integration of Cash App, its peer-to-peer payments platform, with Square, which serves merchants, in an attempt to link consumer and business-facing services more tightly.
Block did not immediately respond to Bloomberg’s request for comment sent outside normal business hours and has not issued a public statement on the reported job cuts.
The company is scheduled to report its latest quarterly earnings after US markets close on 26 February.
