Dorsey's Bold Move: Block Slashes Workforce by 50% as CEOs Brace for Recession
Former Twitter CEO Jack Dorsey takes drastic measures at his fintech company Block, slashing the workforce in half amid economic uncertainty. Industry experts weigh in on what this signals for other tech firms.
Jack Dorsey, the co-founder and former CEO of Twitter, has made a bold move at his fintech company Block (formerly known as Square) - he has halved the size of the company's employee base. This dramatic decision comes as Dorsey warns that other companies should be prepared to take similar actions in the face of a looming economic downturn.
Dorsey, who stepped down as Twitter's CEO in late 2021, has long been an admirer of Elon Musk and his unconventional management tactics. It seems Dorsey may have been taking notes, as his latest move at Block echoes Musk's sweeping layoffs at Twitter shortly after taking over the social media platform.
{{IMAGE_PLACEHOLDER}}Source: TechCrunch
