Sebastian Holtz takes over management of the Block Group

MrBora · 2026-02-26T21:28:07.891338Z

No time to look at the earnings right now, but the news shouldn't be bad $SQ

Leopold T.@Tuffbet

8Lun

They fire 4000 employees

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Sansebastian@Sansebastian

8Lun

@Tuffbet What percentage does that make up?

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SemiGrowth@SemiGrowth

8Lun

@Sansebastian between 40-50%

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Sansebastian@Sansebastian

8Lun

@SemiGrowth fierce. Thank you!

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HyperX@AxoWallStreet

8Lun

Whew, the poor labor market 🙃

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Susanne@Isus01

8Lun

@Tuffbet We will hear more news like this from the software industry. AI won't kill companies, but it will reduce the number of employees needed

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SemiGrowth@SemiGrowth

8Lun

Guidance has been raised (profitability) as almost half of the workforce is leaving.
They think AI is good enough and many companies will realize next year that they can fire employees. Block wants to be a pioneer

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MrBora@MrBora

8Lun

@SemiGrowth Do you think they'll make it?

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SemiGrowth@SemiGrowth

8Lun

@MrBora remains to be seen, I remain invested. The company is still favorably valued

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MrBora@MrBora

8Lun

@SemiGrowth only have a very small share from back then, am considering realizing a small loss here and investing the money elsewhere. I think I've been in Block for 2.5 years and it's been the same fluctuations every time

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SemiGrowth@SemiGrowth

8Lun

@MrBora Yes, I am now also back at cost level

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Play R.@Playrio

8Lun

The Block Group has nothing whatsoever to do with Block Inc. It's crazy what's being mixed up here again😂 Holtz will therefore focus on hotels and the like and not on financial services😉

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MrBora@MrBora

8Lun

That's right. I hadn't noticed, didn't have time in the evening, so I just googled it.

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fionn@8fionn

8Lun

was about to sell at -30-40%

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MrBora@MrBora

8Lun

@8fionn I feel the same way. Do you keep Blick or do you throw them out after the climb?

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fionn@8fionn

8Lun

@MrBora Good question, so this management change seems to give some hope, so I'll keep holding on for now or take a closer look at what they want to do differently and then decide

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Sebastian Holtz takes over management of the Block Group🚀