Block, the company led by Jack Dorsey, has recently implemented significant layoffs, reducing its workforce by approximately 10%. The decision to lay off about 1,000 employees in one day was made to avoid arbitrarily spacing out the layoffs, which would not have been fair to the individuals or the company. This move is part of a broader trend of job cuts within the tech industry, with other companies like Google, Amazon, and Meta also making significant cuts to their headcounts.