Afterpay set to sack more than 1,000 employees after decline in 'buy now pay later'

Block, the owner of the ‘buy now pay later’ business Afterpay, is set to sack more than 1,000 staff members in an effort to rein in costs. Some of these job losses are expected to hit Australia. Block paid $39 billion for Afterpay a little over 18 months ago. The redundancies follow a sharp reduction in sales using ‘buy now pay later’ – with questions raised about its use and efficiency in global markets. Payment Services Managing Director Brad Kelly sat down with Sky News Business Editor Ross Greenwood to discuss the company’s sudden decline.