>Block employees are currently expected to send an update email to Dorsey every week, who then uses generative AI to summarize the thousands of messages. In the same all-hands meeting, which took place after hundreds of staff had already been fired, Dorsey said that frequent topics cited by workers in their latest messages included “widespread concerns about layoffs,” “performance anxiety,” and “the tension between accelerating delivery through AI adoption versus maintaining code quality and engineering rigor.”
Jack dorsey is a boob
Ordinary_Chance2606 on
Surely slashing your workforce by 40% is the sign of a well managed company in a very healthy economy
iluvvivapuffs on
The Bloomberg anchors couldn’t believe the number. They kept on asking “really? “You sure?” lol
leoncem on
They pulled an X!!
RaisingCanes4POTUS on
Who needs jobs, anyway?
kittrcz on
Clear sign of failed leadership. I guess the crypto move is going well. Fucking ridiculous.
x3i4n on
40% is crazy. I work in the public sector and everyone freaked out because they cut around 10% of people. I cant imagine.
Over-Dragonfruit5939 on
Ah the usual build a corpo up til it’s profitable and then gut everything and ride the profits until it collapses and then claim bankruptcy 10 years later.
trzepet on
70% of Polish reddit are IT guys sharing stories how they are working for some morons from US for like 2-3 hours a week and the rest is bs scripts and old crap they put together as a afiller
Working from campers in spain or Italy
hairyreptile on
Although i feel for all the nerds who lost their job, i love all the bad news around block ever since they didn’t hire me
Akira282 on
Just a quick squeeze to sell out additional shares. Look at Klarna. These are not healthy companies. Doing so is not showing us this is working
sfhester on
I wouldn’t even bother showing up if I was in the 60%. The rest of the company should just boycott coming to work and let the company grind to a complete standstill. Service goes offline? Good luck Dorsey; you’re on call.
OcellateSpice on
The “Golden Age” reserved only for those in the C-Suite
Top-Acadia-1936 on
Block: a payment processing firm.
10,000 employees globally, and I’m assuming a ton of them are in India.
AI: this is what they expect will carry the load for all the people they are cutting.
I have no point to posting this. I just read the press release, and thought I’d provide my own version of “machine learning”.
EggyT0ast on
how can someone worth over 4 billion dollars not be able to grow a financial tech company
Lopsided_Package9033 on
Only marginally familiar with Block but I feel like their tool of a CEO has always been pretty clear about his AI ambitions.
ChuteEmUp on
I sold this stock at lunch today. *sad Wendy’s noises*
Comfortable-Spell-75 on
Clown market
sspiegel on
Jack is seriously strange. He lost twitter to Musk, and doesn’t seem to have developed any more leadership or ceo skills.
Slaughterfest on
It’s so gross the market rewards shrinking the actual consumer market.
Mcluckin123 on
Didn’t the citrini article say something about this?
ConsistentString4627 on
I have two calls with breakeven 66. I was happy when there is jump but now after knowing the reason I am not happy
CMTTrader on
If they cut 100%, then the stock would be up around 55-60%. Since it’s only 40% cut, it’s 20-25%
33 Comments
Is this AI or did they just have a bloated workforce?
I miss the days when layoffs were a sign of weakness and was frowned upon.
40% is insane. Any news on which teams?
Holy fuck 40% is an insane number jesus christ.
That has to be the biggest single slash in a major tech company so far.
Things not looking good for the workforce…
Dorsey is a pos
So, is the labor market showing signs of stress yet, Chair Powell?
Will just start falling next week
This is the stock i’ve been holding for the longest time without profit.
My $150 avg is so far away.
If it’s anywhere near its current 66-67 range at open, those 1dte $65c’s will be 40 baggers. Keeping the earnings dreams alive for the degens!
Are we back to bad news is good news?
Wired ran an article on this about a week ago predicting about 10%, god damn: https://www.wired.com/story/inside-rolling-layoffs-jack-dorsey-block/
>Block employees are currently expected to send an update email to Dorsey every week, who then uses generative AI to summarize the thousands of messages. In the same all-hands meeting, which took place after hundreds of staff had already been fired, Dorsey said that frequent topics cited by workers in their latest messages included “widespread concerns about layoffs,” “performance anxiety,” and “the tension between accelerating delivery through AI adoption versus maintaining code quality and engineering rigor.”
Jack dorsey is a boob
Surely slashing your workforce by 40% is the sign of a well managed company in a very healthy economy
The Bloomberg anchors couldn’t believe the number. They kept on asking “really? “You sure?” lol
They pulled an X!!
Who needs jobs, anyway?
Clear sign of failed leadership. I guess the crypto move is going well. Fucking ridiculous.
40% is crazy. I work in the public sector and everyone freaked out because they cut around 10% of people. I cant imagine.
Ah the usual build a corpo up til it’s profitable and then gut everything and ride the profits until it collapses and then claim bankruptcy 10 years later.
70% of Polish reddit are IT guys sharing stories how they are working for some morons from US for like 2-3 hours a week and the rest is bs scripts and old crap they put together as a afiller
Working from campers in spain or Italy
Although i feel for all the nerds who lost their job, i love all the bad news around block ever since they didn’t hire me
Just a quick squeeze to sell out additional shares. Look at Klarna. These are not healthy companies. Doing so is not showing us this is working
I wouldn’t even bother showing up if I was in the 60%. The rest of the company should just boycott coming to work and let the company grind to a complete standstill. Service goes offline? Good luck Dorsey; you’re on call.
The “Golden Age” reserved only for those in the C-Suite
Block: a payment processing firm.
10,000 employees globally, and I’m assuming a ton of them are in India.
AI: this is what they expect will carry the load for all the people they are cutting.
I have no point to posting this. I just read the press release, and thought I’d provide my own version of “machine learning”.
how can someone worth over 4 billion dollars not be able to grow a financial tech company
Only marginally familiar with Block but I feel like their tool of a CEO has always been pretty clear about his AI ambitions.
I sold this stock at lunch today. *sad Wendy’s noises*
Clown market
Jack is seriously strange. He lost twitter to Musk, and doesn’t seem to have developed any more leadership or ceo skills.
It’s so gross the market rewards shrinking the actual consumer market.
Didn’t the citrini article say something about this?
I have two calls with breakeven 66. I was happy when there is jump but now after knowing the reason I am not happy
If they cut 100%, then the stock would be up around 55-60%. Since it’s only 40% cut, it’s 20-25%