Block (BKYC) Announces Another Round of Layoffs Amid Cost-Cutting

Block (BKYC) announced another round of layoffs as part of ongoing cost-cutting, impacting employees across multiple teams and coinciding with annual performance reviews. This follows three consecutive years of early-year reductions, including cuts of about 8% in staff in March 2025 and January 2024. The company maintains a cap of 12,000 employees since 2023. As of December 31, 2024, Block had 11,372 full-time employees globally, with 2,627 outside the U.S. Layoffs through the first nine months of 2025 are expected to cost about $79.5 million in severance and related expenses. Analysts suggest these actions align with the company’s three-year outlook to enhance operating leverage and shift investments toward sales and marketing. Block continues to actively hire with 304 open roles across legal, design, finance, hardware, IT, machine learning, sales, and product. The company is focusing on Rule of 40 profitability, expanding Cash App features, engaging a teen advisory council, and establishing a new Dublin, Ireland office to support European growth.