Block Inc. (SQ) Considers Up to 10% Job Cuts Amid Workforce Cap and Share Slide

Block Inc. (SQ) is considering up to 10% job reductions, according to Bloomberg, citing insiders, as part of a broader restructuring. Hundreds of employees across its Cash App, Square, Bitkey, Proto, and Spiral units have been told their roles are at risk. The company reaffirmed a 12,000-employee cap in its third-quarter report and had fewer than 11,000 employees in November 2026. Shares have fallen 14% this year while the S&P 500 gained 1.27% and the company’s stock is down 23% in 2025. Fourth-quarter earnings are scheduled for February 26, 2026, with adjusted EPS forecast at $403 million, or 68 cents per share, versus 71 cents in the same quarter of 2024.