Block Inc., owned by Jack Dorsey, is considering cutting up to 10% of its workforce during annual performance reviews as part of a restructuring effort. The company currently employs just under 11,000 people. Block is focusing on efficiency and aligning its product lines, including Cash App and Square. Block expected to post $403 million Q4 profit, with analysts predicting revenue of $6.25 billion. Bitcoin generated $1.97 billion in revenue for the company in the third quarter. Square, owned by Block, launched a Bitcoin payment option for merchants.

Read more at Cointelegraph: Jack Dorsey’s Block May Slash Up To 10% of Staff: Report