Dorsey’s Block cutting up to 10% of staff in efficiency push

Jack Dorsey’s Block Inc. has been notifying hundreds of employees that their jobs may be eliminated during annual performance reviews as the payments firm embarks on a broader business overhaul.

Up to 10% of Block’s workforce is at risk of being cut, according to people familiar with the matter who were granted anonymity to discuss sensitive information. The company had fewer than 11,000 employees as of late-November, an executive said at the time.

Block didn’t immediately...