Jack Dorsey says Block overhired during COVID, but that blaming the company’s layoffs on overstaffing alone “misses all the complexity.”
“Yes we over-hired during COVID,” the Block cofounder and CEO wrote Friday on X, responding to suggestions that the company’s recent layoffs reflected managerial incompetence.
“I incorrectly built 2 separate company structures (Square & Cash App) rather than 1, which we corrected mid-2024, but this misses all the complexity we took on through lending, banking, and BNPL,” he…