AI & Machine Learning

Here's the severance package Block is offering laid-off US employees

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Block, the fintech company led by Jack Dorsey, has initiated another round of layoffs affecting US employees. The severance package for impacted workers includes up to 90 days of pay, a $5,000 transition assistance payment, and three months of COBRA coverage, though it differs from the more generous package offered earlier this year. This news highlights ongoing cost-cutting measures within the tech sector, even as Block reports strong financial performance, and suggests a shift away from citing AI as the primary driver of workforce reductions, instead pointing to improved operational tools.

Read the full article at Business Insider

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