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Jack Dorsey’s Block is also cutting jobs.

The company, which owns financial services like Cash App and Square, is laying off close to 1,000 employees, according to a report from Business Insider. Here’s what Dorsey told employees in a memo seen by BI:

Why is so much happening in one single day?... We decided it would be better to do at once rather than arbitrarily space them out, which didn’t seem fair to the individuals or to the company When we know we need to take an action, we want to take it immediately, rather than let things linger on forever.