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Jack Dorsey-Led Tech Giant Slashes a Thousand More Jobs
- paulryanrogers 3y agoLooks like they over hired
- octokatt 3y agoCan confirm, worked at Cash App, they vastly overhired. Teams were tripling in size, trying to keep up with growth, and then managers got used to the idea of "if you have too much work, hire more". It's funny the article cites: > Block stock rose by over 2% Wednesday to $52.27 a share. That share price is down around 19% compared with the start of 2023. When the real story is that Block stock was at ~$250 in summer 2021, before Square became Block and they tried (unsuccessfully) to pivot to crypto. Oops.
- deleted 3y ago[deleted]
- mvdtnz 3y agoThe term "tech giant" has lost all meaning at this stage, if it ever had any.
- HappySweeney 3y ago13k employees isn't small, or even medium. Giant may be a bit hyperbolic.
- genmud 3y ago... after record profits. > where the company reported a record gross quarterly profit of $1.9 billion. Not saying that businesses should not try to optimize, but it seems a bit of a dick move to post record profits and cut nearly 10% of your headcount.
- deleted 3y ago[deleted]
- nytesky 3y agoBut they still aren’t “profitable” yet in having positive net profits, right? What is their path there?