Daring Fireball
Block Lays Off 4,000 (of 10,000) Employees
https://daringfireball.net/linked/2026/02/27/block-layoffs
Block Lays Off 4,000 (of 10,000) Employees

Link to: https://www.cnbc.com/2026/02/26/block-laying-off-about-4000-employees-nearly-half-of-its-workforce.html

Daring Fireball
Feb 27 at 3:39pmDF Tootbot
Show threadjosephFeb 27
@daringfireball in addition to the massive over-hiring during COVID, Dorsey bet big on Bitcoin which is down by half since its peak last year. Interest rates higher than zero for a while now PLUS bitcoin crashing is a hell of a financial hit
Show threadAlexander LFeb 27
@mixdup @daringfireball I wouldn't be shocked if 80% of this was due to Bitcoin tanking and Dorsey having bet big on it.
Show threadDelricFeb 27

@daringfireball I know from firsthand experience at one of the other cited companies that while leadership says it was due to AI savings, none of us engineers believed that to be true.

as for his mixed cs lowercase - less about respect and more just writing in the format your audience expects. i don’t care about case and my fellow engineers care less about it too, since we code in lower. but if writing my director ill switch to normal since he does

Show threadRichard ErikssonFeb 27
@daringfireball The CEOs of the companies that absurdly over-hired will have their salary cut by the same percentage as they cut from staff. Right?
Show threadOlivier Roux (moose)Feb 27
@daringfireball how come they had TEN FREAKIN THOUSAND employees in the first place?
Show threadRaouf DoolFeb 27
@daringfireball is there any more boss-coded language than “overhiring”