BlockBeats News, on February 27, Twitter founder Jack Dorsey responded to claims that “the number of Block employees increased from 3,900 in December 2019 to 12,500 in December 2022, and now the layoffs are even less than half of the initial ‘crazy expansion,’ which is less about artificial intelligence and more about poor management by Jack Dorsey.” He stated, “Yes, we did overhire during the pandemic because I mistakenly built two separate company structures (Square and Cash App) instead of integrating them into a unified structure. We have corrected this issue in mid-2024. But this overlooks the complexities we faced during this period—including launching lending, banking services, and ‘buy now, pay later’ operations, which brought operational and compliance challenges.”
Our current goal is to achieve over $2 million in gross profit per employee, which is four times the pre-pandemic efficiency. From 2019 to 2024, our per capita gross profit has remained around $500,000. We have been, and still are, running an efficient company with performance better than most peers."
Earlier reports indicated that Twitter founder Jack Dorsey’s Bitcoin payment company Block is cutting 4,000 employees, nearly half of its workforce. The company is betting on artificial intelligence to change future labor productivity. Following the layoffs, Block’s stock price surged 22% after hours.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Bitcoin Price News: BTC Reaches 20M Supply Milestone as TAO Rises 18% While Deepsnitch AI Live Utility Sparks 100X Prediction After March 31 Launch
Bitcoin price news shows Bitcoin adoption rising in the United States. Currently, BTC holders are significantly higher than gold holders. Despite the growing user base, Bitcoin price analysis today shows the asset consolidating between $65,000 and $70,000.
Meanwhile, the DeepSnitch AI (DSNT) p
CaptainAltcoin7m ago
Analyst: Bitcoin's 30-day average transfer volume has decreased but remains above the 365-day average level
Gate News Report, March 10th, cryptocurrency market analyst Axel Adler Jr. posted on social media that the 30-day average transfer volume of Bitcoin (BTC) has decreased compared to one month ago and three months ago. However, this indicator still remains above the 365-day average level and is significantly higher than the level six months ago.
GateNews18m ago
BTC breaks through $71,500, rising 4.5% in a single day, with multiple analysts' opinions diverging
March 10th, Bitcoin rose approximately 4.5%, breaking through $71,500. Despite tense tensions in the Middle East, analysts have differing views on the future market. Some believe the short-term bulls are in the lead, while others remain cautious of a potential pullback and are watching key support levels.
GateNews37m ago
Strategy Breaks Record with One-Day STRC Stock Sale
Strategy Inc. achieved record trading volume with its Stretch preferred stock issuance, raising capital to fund aggressive Bitcoin acquisitions. The firm continues to leverage capital markets, enhancing its position as a leading corporate Bitcoin holder.
DailyCoin41m ago
In the past 24 hours, the entire network has been liquidated by $365 million, with BTC liquidations totaling $132 million.
In the past 24 hours, the total liquidation amount in the cryptocurrency market reached $365 million, with long positions liquidated at $157 million and short positions at $207 million. BTC and ETH were liquidated at $132 million and $70.34 million respectively, with a total of 92,499 people liquidated. The largest single liquidation was $8.083 million.
GateNews1h ago
Bitcoin Rises as Trump Amplifies Iran Threats, Fed Rate Cut Chances Fall Near Zero
Bitcoin's price hovers near $71,000 despite a 3% increase, as geopolitical tensions and the Federal Reserve's rate policy create market uncertainty. Oil prices have declined from recent peaks, and crypto markets face liquidation pressures amid mixed investor sentiment.
Decrypt1h ago
