Block Cuts Jobs Again Following Massive February Layoffs
Block initiated a second round of job cuts in 2026 to streamline operations despite reporting strong third-quarter gross profits.
Block informed employees on November 5 that it is eliminating roles across its Customer Ops, Risk Ops, and Learning & Content Operations teams. These cuts impact both the Square and Cash App business units. The company stated the reductions involve shifting reporting lines and adopting better tools for routine tasks to improve operational efficiency.
This marks the second workforce reduction for the fintech company in 2026. In February, Block cut more than 40% of its staff in a massive effort to save between $800 million and $900 million annually.
The latest layoffs come despite a period of financial growth. Block reported strong third-quarter results, with gross profit increasing 22% year over year to $3.24 billion. The company also raised its full-year profit outlook to $12.6 billion.
