Big Changes Are Coming for Block. Should You Buy the Stock Before the Shake-Up?
Block (NYSE: SQ) is in the midst of a shake-up, including a hiring freeze and a business reset. In this latest move, co-founder and CEO Jack Dorsey told employees he plans to restructure Block, warning them that it could feel disruptive.
The move is one of many as Dorsey looks to get Block back on a good growth trajectory after years of ballooning expenses. With the stock 79% below its all-time high price of $289 a share in 2021, is now a good time to buy Block?
In an internal memo to employees, Dorsey said he plans to restructure Block by removing business silos and disbanding the company's business unit reporting structure, according to Fortune. The move would take Block back "to how we started as a company" and will address Block's "three problems" relating to "collaboration, craft, and flexibility."
Source Fool.com
