Jack Dorsey is planning a major restructuring at Block

$Block (SQ.US)$ $SQ | Jack Dorsey is planning a major restructuring at Block, the company behind Cash App, Square, and Tidal. He said this reorganization might feel "big and disruptive," but it's meant to improve collaboration, craftsmanship, and flexibility.

In a note to employees, Dorsey said, "We’re going to reorganize our entire company by function and disband our business unit reporting structure," adding that this move would take Block back “to how we started as a company.” The subject line of the note was “fn block.”

Dorsey mentioned that the restructuring aims to address three issues at Block: “collaboration, craft, and flexibility.” With the reorganization, “we’re going to remove the business unit silos and organize all of Block by engineering, design, product, sales, etc.” Each of these new segments will have a new leader appointed, Dorsey added.

Source: Fortune