Block staff expect Square to be next in line for layoffs
Afterpay-parent Block’s decision to cut more than 1,000 staff has reverberated throughout its global operations. Staff at its payment platform Square fear they could be next.
After watching hundreds of their colleagues depart last month, staff at payment platform Square are concerned their teams will be next as parent company Block looks to continue its cost-cutting drive.
The merchant payment terminal business farewelled employees as part of the broader company layoffs last month, but has not been hit as hard as its stablemate Cash App division, which includes the Australian-founded Afterpay brand.
“Afterpay, Cash App and the [corporate] teams look like they have had their layoffs but it looks like Square has barely gotten started. I think there’s a lot more to come,” said one current Australian employee who spoke on the condition of anonymity because they were not authorised to speak to media.
“Unlike the other products, Square is a lot more distributed globally so I’d expect it might take longer to comb through teams and see where cuts can be made.”
