Inside the Rolling Layoffs at Jack Dorsey’s Block
Summary
Workers at Block, the parent company of Square and Cash App, report a declining workplace culture amid ongoing layoffs and increasing demands to utilize AI tools regularly, raising concerns about employee morale and job security.
Key Insights
What are Block's Proto and Goose initiatives?
Proto is Block's Bitcoin mining division, while Goose is its artificial intelligence project, both central to the company's restructuring efforts alongside integrating Cash App and Square.
What does 'rolling layoffs' mean in the context of Block's cuts?
Rolling layoffs refer to ongoing, phased reductions in staff, with Block notifying hundreds of employees during annual performance reviews that their jobs may be eliminated, as part of a continuous efficiency overhaul rather than a single mass layoff event.