Jack Dorsey's fintech company Block to lay off 1,000 employees

Block is cutting around 1,000 jobs, primarily impacting Cash App, Square, and core teams, as per Business Insider. The fintech giant, co-founded and headed by Jack Dorsey, had announced last year that it seeks to reduce its workforce from 13,000 to about 12,000. Block's layoffs are part of a larger trend, as numerous tech companies have reduced their workforce in the past few weeks. As per Layoffs.fyi, over 100 tech companies have fired nearly 29,000 workers this January itself.