Read the email that Jack Dorsi sent when 931 Block staff cut

Fintech Block delivered 931 people today, according to a letter leaked from the company that TECHRUNCH saw.

The news was announced to employees in an email from the co -founder and CEO of Block Jack Dormyy. Dorsi told employees that Block would be “some changes in Org, including eliminating roles and starting the process of consulting in countries that require this.”

In the email, Dorsi explained that the mass cuts the roles across three wide buckets. The first that he can have is 391 people who are cut for “strategic” reasons.

The second and largest Aquarius, 460 people, is for the reasons for “performance”, with Dorsi explaining that the mass is “separating roads with people” who record “below” or “heading towards below”.

The third bucket is the managers, 80 of whom are cut to flatten the hierarchy of the block.

The Dorsi email denies that the demobilization of workers is for financial reasons or to replace the workers on behalf. Specifically, Dorsi wrote that “nothing of the above (discounts) is trying to reach a specific financial goal, to replace people with AI, or change our headscarf.”

Instead, he continued that Block cuts roles due to the transformation of strategic needs with “raising the tape and acting faster to perform.”

Dorshi also indicated that Block is closing “All” 748 Open Open in Block except for those who advanced to the stage of the show, critical roles, major driving roles, and others.

roadblock The last demobilization of the main workers in January 2024 was subjected to When you cut about 1000 floors. The outfit contains about 12,000 employees, so that there are herds of about 10 % at a time within 15 months.

Block did not immediately respond to a request for comment.