Block anticipates 10% job cuts as Bitcoin strategy becomes priority

Block Inc., the payments giant founded by Jack Dorsey, has begun informing several hundred employees that their positions could be eliminated during annual performance reviews. According to sources close to the matter, this measure is part of a broader restructuring, aimed at refocusing the company's strategic priorities. Up to one in ten employees could be affected, as management seeks to align its teams with its new product directions and cost reduction objectives.

A restructuring aligned with Bitcoin priorities

According to Bloomberg, up to 10% of Block's workforce could be affected by this wave of cuts. At the end of November 2025, the company had slightly fewer than 11,000 employees, according to an executive interviewed. The ceiling of 12,000 employees, introduced in 2023, remains in force and management has reaffirmed its intention not to exceed it.

The current restructuring is a continuation of a reorganization initiated in 2024, intended to improve operational efficiency. The company has focused on further integration between Cash App, its peer-to-peer payments application, and Square, its branch dedicated to merchant services. For managers, better coordination between these two entities would reduce functional overlap and clarify product strategy.

At the same time, Block actively continues its investments in new projects related to the Bitcoin ecosystem and software development. Its expansion plans include Proto, its mining division, as well as an internal artificial intelligence project called Goose. Several Bitcoin-oriented products are also part of this dynamic, ranging from payment tools for merchants to self-custody hardware to open source development.

Block's current strategy is structured around four major axes:

• Closer integration between Cash App and Square to streamline the product offering;
• The continued development of Bitcoin mining hardware and services via Proto;
• Support for self-custody and open source tools dedicated to Bitcoin, notably via Bitkey and Spiral;
• Reinforced control of the workforce, in accordance with the ceiling set in 2023.

This strategic transition was not without effect on Block's stock market performance. Since the start of the year, the stock has fallen about 14%, while the S&P 500 index has gained 1.3%. The downward trend intensified in 2025, with an overall loss of around 23%. Block's entry into the S&P 500 in July nevertheless raised positive expectations from investors.

Bitcoin Payments and Imminent Results Release

Fourth-quarter financial results are due to be released on February 26, according to Bloomberg. Analysts expect adjusted earnings of about $403 million, or 68 cents per share, on estimated revenue of $6.25 billion. Previous projections predicted stable margins, despite a slowdown in certain segments.

In the third quarter, Block recorded net income of $461.5 million on $6.11 billion in revenue. Gross profit increased by 18% year-on-year, driven by growth of 24% at Cash App and 9% at Square.

Despite these results, the action had declined at publication, several indicators being below Wall Street expectations. Revenues from Bitcoin amounted to $1.97 billion in the quarter, compared to $2.4 billion a year earlier. They nevertheless remain Block's second source of income.

In November, Square expanded the functionality of its payment terminals, now allowing merchants to accept Bitcoin payments at checkout. Two options are offered: a direct transfer of BTC or an automatic conversion to fiat currency. Today, more than four million sellers in eight countries use Square's services, providing Block with a solid foundation to continue integrating Bitcoin into its payment solutions, and redefining its business model under the leadership of Jack Dorsey.