Comment by lotsofpulp

> If the profits are still up and growing

Block has never really made a real profit. These layoffs are basically saying the company is no longer in moonshot mode and it’s now in the extraction phase of whatever it has, which means increase prices for whatever it sells and decrease expenses, i.e. payroll.

https://www.macrotrends.net/stocks/charts/XYZ/block/net-inco...