San Francisco, January 31: Jack Dorsey슬롯사이트™s financial services company Block is laying off close to 1,000 employees, which will affect staff in the Cash App, Afterpay and Square subsidiaries of the company. About 1,000 people -- or 10 per cent of Block슬롯사이트™s headcount -- were impacted by the decision, according to a report from Insider.

슬롯사이트œWe decided it would be better to do at once rather than arbitrarily space them out, which didn슬롯사이트™t seem fair to the individuals or to the company. When we know we need to take an action, we want to take it immediately, rather than let things linger on forever,슬롯사이트 Dorsey wrote in an internal memo to employees.슬롯 머신 사이트 추천PayPal Layoffs 2024: US-Based Fintech Firm Announces To Lay Off 2,500 Employees Due to 슬롯사이트˜Rising Competition슬롯사이트™.

In an earnings call last year, Block had said it would reduce its headcount from 13,000 in Q3 2023 to an 슬롯사이트œabsolute cap슬롯사이트 of 12,000 by the end of this year. Revenues from Cash App, the peer-to-peer payments service, have declined significantly, reports TechCrunch.

Meanwhile, its buy now, pay later (BNPL) service Afterpay, which Block acquired in 2021 for $29 billion, has posted serious losses. Square also faces competition on multiple fronts, including from Fiserv슬롯사이트™s Clover, Toast and Stripe. Block reported $5.62 billion in revenue for the third quarter of 2023, with $44 million in profit on its Bitcoin holdings.

In September last year, Dorsey was appointed Head and Chairperson of Block (earlier called Square) he co-founded in 2009. Dorsey슬롯사이트™s title changed from 슬롯사이트œChief Executive Officer, President and Chairperson슬롯사이트 to 슬롯사이트œBlock Head and Chairperson,슬롯사이트 effective immediately.슬롯 머신 사이트 추천Indian Government Slashes Import Duty on Key Components Used in Mobile Phone Production to 10% From 15%.

슬롯사이트œThere will be no changes in Dorsey슬롯사이트™s roles and responsibilities, and he will continue to serve as principal executive officer of the company,슬롯사이트 Block said in a filing with the US Securities and Exchange Commission (SEC).슬롯 머신 사이트 추천 In December 2021, Dorsey슬롯사이트™s financial services company Square announced to change its name to Block.

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