Block weighs cutting up to 10% of jobs: Bloomberg

Core Viewpoint - Block Inc. is reportedly planning to reduce its workforce by up to 10% as part of a broader business overhaul, affecting hundreds of employees [1] Group 1: Workforce and Business Strategy - The company may cut its workforce by as much as 10%, with hundreds of employees informed that their jobs are at risk [1] - Block has implemented a 12,000-employee cap in 2023 and reaffirmed this commitment in its third-quarter earnings report, with fewer than 11,000 employees as of November [2] Group 2: Financial Performance - Shares of Block have decreased by 14% this year, while the S&P 500 index has increased by 1.27% [3] - The stock experienced a significant drop of 23% in 2025 [3] - The company is expected to report fourth-quarter earnings on February 26, with adjusted earnings forecasted at $403 million, or 68 cents per share, compared to an adjusted EPS of 71 cents in the fourth quarter of 2024 [3]