Jack Dorsey responds to the layoffs of nearly 4,000 people due to AI: admits that there was overhiring before, and the future goal is to achieve over $2 million in gross profit per person.

ZkProver · 2026-02-27T08:46:33+00:00

Jack Dorsey responds to the reason for Block layoffs, pointing out that overhiring during the pandemic was caused by incorrect structuring, and plans to correct this in 2024. The goal is to achieve a gross profit of over $2 million per person, improve operational efficiency, and emphasize the company's efficiency.

ZkProver

2026-02-27 08:46:33

Abstract generation in progress

ChainCatcher News: In response to community concerns that “Block’s layoffs are mainly due to overhiring during the COVID-19 pandemic and poor management,” former Twitter founder Jack Dorsey posted on X platform saying, "Yes, during the pandemic, we overhired because of the mistake of establishing two separate company structures (Square and Cash App), but this issue was corrected by mid-2024.

However, this does not cover the full complexity of our lending, banking, and BNPL operations. Our current goal is to achieve a gross profit of over $2 million per person, four times the pre-pandemic efficiency, which has been around $500,000 from 2019 to 2024. In fact, we operate a highly efficient company better than most."

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