Square Inc. rebrands as Block Inc.
December 1st, 2021 Square Inc. has announced that it will be changing its name to Block Inc. The move is meant to reflect the company’s growth since it’s foundation in 2009, and will represent the company as a corporate entity. The name change is meant to distinguish the entity from its well-known products under the Square brand. As of the time of writing the name change is cosmetic only, as the company has stated that there will be no organizational changes to it or its subsidiaries. The rebranding is meant to evoke the image of building blocks as well as neighborhood blocks, as the company seeks to maintain its image as a small business friendly entity.
New Activity|ESG|Structural|Discontinued ActivityIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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