Jack Dorsey‘s Block Inc. (NYSE:XYZ) is reportedly telling its employees about potential job cuts during its annual performance review amid broader restructuring.

The fintech company is targeting 10% of its workforce for potential layoffs, reported Bloomberg on Saturday. As per the 10-K filing, Block had nearly 11,372 employees globally.

The company is aiming to integrate its CashApp payment vehicle with its merchant platform Square. At the same time, Dorsey is also focusing on developing the AI tool Goose as well as the company’s Bitcoin (CRYPTO: BTC) initiative called Proto, as per the publication.

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