Block, led by Jack Dorsey, might reduce workforce by 10%: Sources

Block is reportedly considering a significant workforce reduction of up to 10%, as analysts predict $403 million profit in Q4.

In a potential strategic shift, Block, the financial technology company founded by Jack Dorsey, is contemplating a workforce cut that could affect as much as 10% of its employees, according to recent reports.

Analysts project that the company will announce a profit of $403 million for the fourth quarter, supported by anticipated revenues of approximately $6.25 billion. This forecast comes on the heels of a third quarter that showcased notable growth in gross profits, although the market's response was somewhat mixed.