Already a subscriber?Afterpay’s parent Block started cutting more than 1000 jobs globally on Wednesday, kicking off a round of job cuts targeting workers from Australia to San Francisco.in 2021 in a deal struck at the peak of the technology boom.Led by Twitter co-founder Jack Dorsey, Block is also known for its Cash App payment tool and Square credit card readers.
“Knowing a bunch of the people and who teams who were let go and what they did, I’m not honestly sure how Afterpay in its current form survives outside of AU,” one employee wrote on Blind, an anonymous social network that requires verified company emails for participation.“As far as Afterpay/Cash Commerce/Offers as an eComm solution for customers and sellers… yeah… pretty much donezo in my opinion.
A Block spokeswoman declined to comment. In his message to staff, Mr Dorsey said that within the Cash App business, the global, marketing and commerce teams copped the most severe reductions. Block’s shares are down about 75 per cent since it bought Afterpay, though it has participated in the tech rally that boosted its shares 50 per cent to $US68.22 since October.in October last year. Last month it axed 40 roles at the music streaming business Tidal, which was co-founded by rapper Jay Z and bought by Block for $US237 million in 2021.
Source: News Formal (newsformal.com)
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