Block fires 50% of company, stock up 25%

[Anonymous]

Anonymous wrote:For folks who dont know how Fintech works. The people who work there are most young, energetic and very qualified. Getting let go is a badge of honor and ex-coworkers are in a club.

My old ex very large pre-IPO now very late stage Finttech the ex staff have literally started around 40-50 new start ups and love to hire from my old company regardless if let go.

My old company I would see pictures on line of a company where most of room under 30, trendy, cool, hip and very very hard workers they get snatched up. It is not like a Fed job where letting go of 55 year olds with dated skills that are very Fed specific.

My old Fintech (even though not young), wanted me to set up a big thing very very quickly all by myself in a short time frame that would pass regulatory approval on first shot. I worked at two other Fintechs and one I did exact same thing they wanted done and to be honest I kept everything from prior job.

Those Block folks I am sure did the same

You must be retired now, definitely good to get out early before bubble crashed but fintech has been on a decline since 2022. Just look at Blocks stock price. And then you have the fraud at Frank. There is no VC money for these imaginary startups.

Trendy and hip in finance?

[Anonymous]

Anonymous wrote:

Anonymous wrote:Here's a surprising fact: companies exist to make money for their owners, not to provide as much employment as possible for as many people as possible.

Either be essential to a company's functioning and success, or start your own company, or work for a government which is not focused on efficiency. Expecting employment to be a sinecure is just foolish.

But they get tax breaks because they are “job creators” who “contribute to the community”.

Yes, and they do. But their main purpose is not about providing unlimited employment.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Here's a surprising fact: companies exist to make money for their owners, not to provide as much employment as possible for as many people as possible.

Either be essential to a company's functioning and success, or start your own company, or work for a government which is not focused on efficiency. Expecting employment to be a sinecure is just foolish.

But they get tax breaks because they are “job creators” who “contribute to the community”.

Yes, and they do. But their main purpose is not about providing unlimited employment.

Their “main purpose” is whatever we, as a democracy, decide it is. Corporations only exist because our laws allow them to.

[Anonymous]

It sounds like Block didn't need the workers it had anyway. Even without AI.

[Anonymous]

Anonymous wrote:Announcing mass layoffs always causes a company's price to go up. The question, of course, is whether the company will continue to grow once all those people are gone. When a company's revenue stagnates, it becomes dead to Wall Street, and no one cares about its stock anymore.

This, Amazon and other companies do this regularly. Its nothing new. They are using AI as an excuse. They will hire more, fire more.

[Anonymous]

How about if they replace the CEO with A

[Anonymous]

Anonymous wrote:It sounds like Block didn't need the workers it had anyway. Even without AI.

This is exactly it. The economy is beginning to stagnate, and layoffs will be rampant as a result. AI will just be the excuse because it's better than admitting that there's decreased demand for whatever your company does. Block has totally stagnated (its revenue was completely flat from December 2024 to December 2025), and that's why it's doing layoffs.

[Anonymous]

Anonymous wrote:

Anonymous wrote:It sounds like Block didn't need the workers it had anyway. Even without AI.

This is exactly it. The economy is beginning to stagnate, and layoffs will be rampant as a result. AI will just be the excuse because it's better than admitting that there's decreased demand for whatever your company does. Block has totally stagnated (its revenue was completely flat from December 2024 to December 2025), and that's why it's doing layoffs.

Maybe the CEO is the problem

[Anonymous]

Anonymous wrote:

Anonymous wrote:It sounds like Block didn't need the workers it had anyway. Even without AI.

This is exactly it. The economy is beginning to stagnate, and layoffs will be rampant as a result. AI will just be the excuse because it's better than admitting that there's decreased demand for whatever your company does. Block has totally stagnated (its revenue was completely flat from December 2024 to December 2025), and that's why it's doing layoffs.

+1 Doesn't look good for the company to say, "We need to layoff because revenue is down". Much better to say, "We don't need as many people because AI can do most of the work."

AI washing is a thing.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:It sounds like Block didn't need the workers it had anyway. Even without AI.

This is exactly it. The economy is beginning to stagnate, and layoffs will be rampant as a result. AI will just be the excuse because it's better than admitting that there's decreased demand for whatever your company does. Block has totally stagnated (its revenue was completely flat from December 2024 to December 2025), and that's why it's doing layoffs.

Maybe the CEO is the problem

He did push for the pivot from Square to Block, ie jump on crypto

[Anonymous]

The stock is down 75% from its peak and is struggling. The company is mismanaged.

AI is a convenient deflection from the CEO's incompetence.

[Anonymous]

Anonymous wrote:The stock is down 75% from its peak and is struggling. The company is mismanaged.

AI is a convenient deflection from the CEO's incompetence.

This. Dorsey has always been a terrible ceo