jack dorsey block – pressnews

[ad_1] Block Inc. began cutting jobs as part of the firm's goal to cap its workforce at 12,000 employees. Block, run by Jack Dorsey, announced the cap when it reported third-quarter earnings in November, and took steps to achieve the goal on Tuesday, according to the company. Block, which offers the Cash App and Square payments services, said the goal of 12,000 staffers will be achieved by the end of the year. The company declined to give specific details on how many jobs were affected. It has sought to rein in costs amid efforts to boost earnings. Dorsey said in November that the workforce cap will be in place “until we feel the growth of the business has meaningfully outpaced the growth of the company.” In December, Tidal, the music streaming service once owned by recording artist Jay...

[ad_1] Jack Dorsey’s Block Inc. is among the companies contributing to a funding round for a Bitcoin miner in Africa fired by renewable power. Jack Dorsey's Block Inc. is among the companies contributing to a funding round for a Bitcoin miner in Africa fired by renewable power. Digital payments firm Block and venture capital investor Stillmark have led a $2 million seed investment in Gridless, a miner that harnesses small-scale renewable energy grids in rural Africa, Block said in a Dec. 6 statement. Bitcoin mining is an energy-intensive process in which electricity-guzzling computers secure the digital-asset's blockchain by validating transaction data and unlocking tokens as a reward in return. Some studies estimate that the annual energy consumption involved exceeds the amount ...

Tag: jack dorsey block

Jack Dorsey’s Block Cuts Jobs to Achieve Cap of 12,000 Staffers

Jack Dorsey’s Block Invests in Renewable Bitcoin Miner Gridless in Africa