Sunday, March 3, 2024

Some Irish-based jobs to be cut at payments firm Block

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A small number of Irish-based jobs are to be cut at Block, the fintech firm founded and led by former Twitter boss Jack Dorsey.

The company, which employs around 300 people in Ireland, would not confirm how many Irish-based roles are impacted.

Block is the parent company of Square, Cash App and Tidal, and in November last year it announced a global workforce cap of 12,000 people, with 1,000 job cuts needed to meet that target.

The company said it expects to reach that cap by the end of 2024.

It would not provide a breakdown of the job cuts by business units or regions but did confirm that the cap applies to the entire company and its overall global headcount.

Mr Dorsey said in November that the workforce cap would remain in place “until we feel the growth of the business has meaningfully outpaced the growth of the company.”

Irish-based job cuts at Block were first reported by the Business Post.

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