Read the email Jack Dorsey sent when he cut 931 of Block’s staff

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Read the email Jack Dorsey sent when he cut 931.jpg

Fintech Block delivered 931 people, approximately 8 % of the company’s employees, on Tuesday, according to a message leaked from the company that Techcrunch saw.

The news was announced to the employees in an email from the co -founder and CEO of Block, Jack Dorsi. Dorsi told employees that on Tuesday, Block will “make some changes in Org, including eliminating roles and starting the process of consultation in countries that require this.”

These are the latest changes in Block, the financial services giant in Dorshi that has the Cash and Square app. The company provides mobile devices payment services for consumers, as well as companies and programs for companies.

In the email, Dorsi explained that the mass cuts the roles across three wide buckets. The first that he can have is 391 people who are cut for “strategic” reasons.

The second and largest Aquarius, 460 people, is for the reasons for “performance”, with Dorsi explaining that Block puts the staff who record a classification “below” on measures to track the internal performance of the company, or they were heading towards it.

The third bucket is the managers, 80 of whom are cut to flatten the Block’s hierarchy to “Innercore+4”, which indicates direct Dorsi reports and then four levels of direct reports that go beyond that, according to a familiar source. Dorsi also said 193 managers were being transferred to individual shareholders’ roles.

The Dorsi email denies that the demobilization of workers is for financial reasons or to replace the workers on behalf. Instead, he said that Block cuts roles due to the transformation of strategic needs while “raising the tape and acting faster to perform.”

Dorsi also noticed that Block closed 748 open roles in the company, with the exception of those who advanced to the stage, critical operations roles, and major driving roles, among other things.

Block Last was underwent the main workers in January 2024, when it reduced about 1,000 roles. As of December 2024, the outfit had about 11,300 employees worldwide, according to the latest files of the company, which is 10,000.

Block did not immediately respond to a request for comment.

Below is the entire email sent by Dorsi to ban employees on Tuesday. The rules have been modified and this text has been coordinated a little to protect the sources that he shared with Techcrunch. Email:

Welcome.

Today we will make some changes, including eliminating roles and starting the process of consulting in countries when necessary. I want to give you all the straight facts.

As I said in the last bloc, there are three areas that we would like to address:

Strategy: Reducing the difference that is outside the strategy, and reforming our discipline rates.

Performance: separating roads with people who have “below” or head towards “below”.

Hierarch: Driving to flat

What is translated into the actual numbers of people:

Hierarchy: 80 managers (with 193 of the roles of individual information technology contributions)

We also close all the 748 roles that we have opened except:

The roles are advanced to present the stage.

Critical operational roles

Not any of the above points try to reach a specific financial goal, to replace persons on behalf, or change the cover of the number of employees. It is for our needs about the strategy, raising the tape and acting faster in performance, and our Org so that we can move faster and less stripped.

Why is all this once instead of the passage of time? We are behind our actions, and this is not justice for the individuals who work here or in the company. When we know, we must move, and there was not enough movement. We need to move to help us meet and stay at the top of the transformational moment.

This is the most difficult part of my job, and I am fighting strongly against any of these considerations. We must have a very high right bar for us to take any action, which takes the repetition and time to correct. I always balance this with the fact that everyone here, and those who leave, have royal rights in our company. My job to increase this value. We believe this will help us to focus and implement better to do so.

We are working to give everyone quickly, with as much context and support as possible. You will receive a soon e -mail about this. If there are areas you think we can do better, please send a note to me. Direct comments make us better, and always behave when it is logical.

Thanks to all those who leave us. I am grateful and appreciated for you and your customers, who built until this stage. We will continue to honor this by increasing our value to our customers, and therefore for all our shareholders, including you.

Thank you,

Jack