Block Inc
ASX:XYZPayments and financial services platform. Afterpay, Square, Cash App.
Block Inc has been reviewed. Headcount data not yet available.
Financial Context
Market Cap
$48.5B
Revenue
$36.3B
The Story
- Correction, October 2026Two figures on this page were wrong. The Afterpay acquisition was given at US$29 billion, which was the August 2021 announcement value; Block's own filing records US$13.8 billion at completion, the difference being the fall in Block's share price in between. The Australian share of the 2026 cuts was given as “approximately 700” as though confirmed: Block declined to confirm any Australian number, and the figure comes from employee accounts of close to half a 1,300-person local workforce. [Offshore Watch correction]
- February 2026Block cut about 4,000 roles, taking headcount from over 10,000 to under 6,000. Jack Dorsey attributed the decision to AI and to smaller, flatter teams rather than to financial trouble, and the cuts came despite Block reporting strong results. [Information Age (ACS)]
- February 2026Former Afterpay staff were hit hard. Employees said close to half of the 1,300-strong local Afterpay workforce was affected, with significant reductions across legal, product, engineering, design and marketing. Block declined to confirm any Australian figure. Affected staff were offered 20 weeks' pay plus one week per year of service. Former staff told Capital Brief they feared for the product's future. [ChannelNews]
- January 2022Block, formerly Square, completed its acquisition of Afterpay on 31 January 2022, which was 1 February in Australian eastern daylight time. The deal was announced in August 2021 at about US$29 billion; Block's own filing records the consideration as 113,617,352 Class A shares with a fair value of US$13.8 billion at completion, the difference being the fall in Block's share price between announcement and close. Afterpay's Australian staff came across with it, and the Melbourne engineering team continued to own core buy-now-pay-later platform development. [Block 10-K (SEC)]
All facts sourced from public reporting. No editorial commentary. Click source links to verify.
Layoff Events
| Date | Headcount | Location | Department | Notes |
|---|---|---|---|---|
| 1 Mar 2026 | 700 | Australia | technology | Block cut 4,000 workers worldwide, including 700 Australians. |
Other Technology Companies That Offshore
Other companies in technology with reported offshore operations.
| Company | ASX | Reported Offshore | Offshore Destinations |
|---|---|---|---|
| Atlassian | 1,700+ | 🇮🇳 India | |
| Canva | 1,000+ | 🇵🇭 Philippines | |
| REA Group | REA | 577+ | 🇨🇳 China🇵🇭 Philippines🇮🇳 India |
| WiseTech Global | WTC | 428+ | 🇮🇳 India |
| Computershare | CPU | 350+ | 🇵🇭 Philippines🇮🇳 India |
Featured In
What Public Sources Say
All information below is sourced from publicly available documents and reporting. Excerpts are direct quotes. Click source links to verify.
“Block cut 4,000 workers worldwide, including 700 Australians.”
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This list is not complete, and never will be
If a company isn't listed here, that doesn't mean it doesn't offshore. And every number is the lowest we can prove, so the real figures can often be higher.
Read whyShow less
This list is not complete, and never will be
If a company isn't listed here, that doesn't mean it doesn't offshore. And every number is the lowest we can prove, so the real figures can often be higher.
This started as an ASX 200 project and mostly still is. It has widened as stories landed from outside that list, so it now also covers employers that aren't ASX-listed, like Canva, Allianz Australia, SS&C and Crown Resorts, along with government departments and agencies. Companies get added when something surfaces about them, not by working through a list in order.
Australian companies are under no obligation to disclose where their work is done, and there is no register of offshored jobs. Everything here comes from something that surfaced publicly: an annual report, a modern slavery statement, a news article, a union statement, a government contract, or a tip from someone who was there.
So an absence usually means nobody has reported on that company and we haven't got to it yet, not that it keeps its work onshore. Some of the biggest offshorers say nothing at all. And because each figure counts only what a source actually stated, the real numbers can often run higher, sometimes much higher.
Every figure links to the source it came from, so you can judge it yourself rather than take our word for it. If you know something that is missing or wrong, tell us. Corrections are published, not quietly buried.
This profile reflects public information at the time of publication and may not match current operations. Is something wrong or missing about Block Inc? Submit a correction. We welcome input from companies, employees, and researchers.