Jack Dorsey's Block Inc., formerly Square Inc., has initiated staff layoffs as part of its previously announced plan to reduce its workforce by 10%. The company is aiming to enhance efficiency and streamline operations in response to changing market dynamics in the fintech sector. While specific details regarding the number of affected employees and impacted departments remain undisclosed, the move is part of Block Inc.'s broader efforts to stay competitive and innovative in the rapidly evolving financial technology industry.