At financial tech firm Block, employees have been issued “stern warnings” by executives, not to mention rapper and board member Shawn “Jay-Z” Carter, on internal forums such as email and Slack.
This directive, reportedly delivered without explanation, has created waves of unease, with three employees speaking anonymously to Fortune, confirming the directive. Jay-Z, one of Block’s nine board members, has long-standing ties to Block’s CEO, Jack Dorsey. In 2021, Dorsey acquired a majority stake in the music streaming platform Tidal from Carter’s company, making Block the parent company of Tidal and solidifying their professional connection. However, the secrecy around Carter’s name arises amid recent layoffs at Tidal, where further cuts loom.
The ban on discussing Carter was allegedly issued last month after employees raised questions about his role on Block’s board. The company’s latest shareholder letter, published this week, highlighted ongoing furloughs, the closure of TBD (its developer platform), and a reduced investment in Tidal to focus on bitcoin initiatives. However, it did not address the warnings around Carter. When Dorsey convened a virtual all-hands meeting shortly after the warnings, he disabled anonymous questions—a departure from typical protocol. Employees described Dorsey’s message as urging “more positivity” before passing the floor to other executives, who each expressed why they were “happy” at Block.
The silence around Carter, combined with the firings and restrictions on open communication, has left employees speculating about the real story behind the order and what it may signify for the company’s future.
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