Block Inc. Layoffs: Uncertainty Persists Over Local Impact

More than a month has passed since Block Inc., the Oakland-based payment-processing company, announced it was cutting 4,000 jobs, yet the number of local layoffs remains undisclosed. Despite standard procedures requiring companies to notify state agencies about mass layoffs, details regarding the Bay Area impact are still unavailable.

California EDD Awaiting Complete Filing

Companies in California are generally required to notify the state Employment Development Department (EDD) about mass layoffs, providing information on the number of employees affected, their locations, and job titles. Block Inc. submitted a notice to the EDD on February 26, coinciding with the initial layoff announcement, according to a company representative who requested anonymity. However, as of Wednesday, the EDD had not released the notice or acknowledged its receipt.

Missing Information Delays Release

EDD spokesperson Aubrey Henry explained that the filing from Block Inc. was incomplete and therefore couldn’t be processed or released. He stated the agency is “working with Block to complete the filing,” but declined to specify what information was missing. The company representative confirmed ongoing collaboration with the EDD to address the issue.

Block Inc.'s Restructuring and Workforce Reduction

Block Inc., formerly known as Square Inc., offers payment processing, financial services, a cryptocurrency wallet, and the music streaming service Tidal. CEO Jack Dorsey attributed the layoffs to increased efficiency enabled by new artificial intelligence tools, allowing smaller teams to accomplish more. The cuts represented approximately 40% of Block’s global workforce.

Financial Context of the Layoffs

The layoffs followed a 16% decline in the company’s stock price over the past year and a more than 50% drop in profits from 2024 to 2025. Dorsey, however, denied that the layoffs were directly related to financial pressures.

Evidence of Bay Area Impact on LinkedIn

While official figures are pending, evidence suggests the layoffs significantly impacted Bay Area employees. A search on LinkedIn revealed over two dozen Bay Area-based Block employees who indicated they were affected by the cuts. A list compiled by former employees and shared on LinkedIn included 501 affected individuals, with 101 listing San Francisco and 63 listing Oakland as their location.

Former Employees Share Experiences

Many former Block employees expressed gratitude for their time at the company and sought assistance in finding new opportunities on LinkedIn. Jonathan Laks, a former data scientist in San Francisco, and Erica Nashimoto, a former employee with over five years at Square, both shared posts detailing their experiences and seeking new roles.

Wider Geographic Impact and WARN Act Compliance

Block Inc. embraced fully remote work in 2020 and maintains a largely untethered workforce, making it difficult to assess the company’s presence in specific locations. Clusters of employees were reportedly located in cities like Boston, Minneapolis, Atlanta, and Raleigh-Durham. The company filed Worker Adjustment and Retraining Notification (WARN) notices in states where employees were affected, as required by federal and state laws.

Inconsistent Reporting Across States

However, several state employment agencies, including those in New York, Missouri, Massachusetts, Minnesota, Georgia, and North Carolina, have not yet received or released layoff notifications from Block Inc. Minnesota’s Department of Employment and Economic Development confirmed their last interaction with Block was in January 2024, regarding a smaller layoff. New York’s Department of Labor is currently working with Block to obtain additional information.