Earlier this week, Block laid off scores of employees at Tidal, including the elimination of all product management and product marketing roles, as Fortune previously reported.
Dorsey said the company needed to 'build like a startup again.' This statement reflected the strategic shift in company focus aiming to streamline operations and reduce overhead.
The growth of our company has far outpaced the growth of our business and revenue,' Dorsey said late last year in a note to staff.
Dorsey took over leadership and has since made steady changes to the company, including multiple rounds of layoffs of more than 1,000 people.
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