Block, the Bitcoin payments company founded by Jack Dorsey, has begun notifying hundreds of employees that their positions may be eliminated in annual performance reviews due to a broader restructuring, potentially affecting approximately 10% of the workforce. Block initiated a restructuring plan in 2024 aimed at improving efficiency and streamlining its product line. The company is working to more closely integrate its peer-to-peer payments platform, Cash App, with its merchant services division, Square. Block is scheduled to release its quarterly earnings report on February 26. (Bloomberg)