Block weighs cutting up to 10% of jobs: Bloomberg
Analysis
Price Impact
MedBlock's potential job cuts signal internal restructuring and possibly a tougher economic outlook for a company heavily involved in bitcoin adoption and services. this could dampen investor sentiment towards related crypto assets, particularly bitcoin.
Trustworthiness
HighThe news is reported by bloomberg, a highly reputable financial news source, and cited by coindesk, a leading crypto news platform.
Price Direction
BearishNews of significant job cuts at a prominent company like block, which has several bitcoin-focused initiatives, can signal underlying economic pressures or internal struggles. this could lead to a cautious or bearish sentiment among investors regarding bitcoin and the broader crypto market, especially given block's recent stock performance.
Time Effect
ShortThe immediate market reaction to such corporate news can be quick due to speculation and short-term trading sentiment, influencing bitcoin's price in the near term.
Original Article:
Article Content:
Finance Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email Block weighs cutting up to 10% of jobs: Bloomberg The company has told hundreds of employees their jobs are at risk as part of a broader overhaul. By Sheldon Reback Feb 8, 2026, 1:39 p.m. Make us preferred on Google Block CEO Jack Dorsey (Joe Raedle/Getty Images modified by CoinDesk) What to know : Block, the Jack Dorsey–run owner of Cash App and Square, is considering cutting up to 10% of its workforce as part of a broader business overhaul, according to Bloomberg. The company, which also operates bitcoin-focused units including Bitkey, Proto and Spiral, warned hundreds of employees that their jobs are at risk. Block shares have fallen 14% this year after falling more than 20% in 2025, and is set to announce fourth-quarter results on Feb. 26. Block Inc. (XYZ), the payments company run by Jack Dorsey, may reduce its workforce by as much as 10%, Bloomberg reported, citing people familiar with the matter. Hundreds of employees at the bitcoin BTC $ 71,275.53 -supporting owner of Cash App and Square have been told their jobs are at risk, Bloomberg said. The reviews are part of a broader overhaul of the Oakland, California-based company's business, it said. STORY CONTINUES BELOW Don't miss another story. Subscribe to the Crypto Daybook Americas Newsletter today . See all newsletters Sign me up By signing up, you will receive emails about CoinDesk products and you agree to our terms & conditions and privacy policy . In addition to the payment apps, which allow individuals and businesses to transact in bitcoin, Block has Bitkey, a bitcoin self-custody hardware wallet, and Proto, a suite of bitcoin mining products and services. Its Spiral unit builds and funds open-source projects advancing bitcoin adoption. The company introduced a 12,000-employee cap in 2023 and reiterated its commitment to the number in its third-quarter earnings report . It had fewer than 11,000 in November, Bloomberg said. Shares in the company have dropped 14% this year while the S&P 500 index, which it joined in July , rose 1.27%. The stock lost 23% in 2025. Block is due to post fourth-quarter earnings on Feb. 26. Adjusted earnings are forecast to come in at $403 million, or 68 cents a share, Bloomberg said. The company posted adjusted EPS of 71 cents in fourth-quarter 2024. The company did not respond to an emailed request for comment sent outside regular U.S. business hours. Block Payment Systems Bitcoin News Jobs In this article BTC BTC $ 71,275.53 ◢ 3.25 %