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Block, the financial technology company co-founded by Jack Dorsey, announced it is reducing its workforce by nearly half, cutting over 4,000 employees from approximately 10,000 to just under 6,000. The company cited artificial intelligence tools as enabling a new way of working.

Block, the financial technology company co-founded by Jack Dorsey, announced it is reducing its workforce by nearly half, cutting over 4,000 employees from approximately 10,000 to just under 6,000. The company cited artificial intelligence tools as enabling a new way of working.

Dorsey stated that the decision was not made because the company is in trouble, noting that Block's business is strong. He explained that intelligence tools paired with smaller teams are fundamentally changing what it means to build and run a company.

Dorsey stated that the decision was not made because the company is in trouble, noting that Block's business is strong. He explained that intelligence tools paired with smaller teams are fundamentally changing what it means to build and run a company.

Block reported gross profit of $10.36 billion in 2025, up 17% year-over-year, and $6.25 billion in revenue in the fourth quarter. The company's gross profit growth more than doubled from the first quarter to the fourth quarter of 2025.

Block reported gross profit of $10.36 billion in 2025, up 17% year-over-year, and $6.25 billion in revenue in the fourth quarter. The company's gross profit growth more than doubled from the first quarter to the fourth quarter of 2025.

Dorsey said he believes most companies are late to realizing the impact of AI and that the majority will reach the same conclusion within the next year. He stated he would rather make structural changes on the company's own terms than be forced into them reactively.

Dorsey said he believes most companies are late to realizing the impact of AI and that the majority will reach the same conclusion within the next year. He stated he would rather make structural changes on the company's own terms than be forced into them reactively.

Affected employees will receive 20 weeks of pay plus one additional week for each year of service, equity vested through the end of May, six months of health coverage and a $5,000 transition payment. Block will incur between $450 million and $500 million in restructuring costs.

Affected employees will receive 20 weeks of pay plus one additional week for each year of service, equity vested through the end of May, six months of health coverage and a $5,000 transition payment. Block will incur between $450 million and $500 million in restructuring costs.

Block's stock jumped more than 20% in extended trading after the announcement. The company had already undergone multiple rounds of layoffs in recent years, with its workforce having nearly tripled from 2019 to 2023.

Block's stock jumped more than 20% in extended trading after the announcement. The company had already undergone multiple rounds of layoffs in recent years, with its workforce having nearly tripled from 2019 to 2023.

Block Cuts 4,000 Jobs, Citing AI as Workforce Game-Changer

Block Cuts 4,000 Jobs, Citing AI as Workforce Game-Changer

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Block Cuts 4,000 Jobs, Citing AI as Workforce Game-Changer

Block Cuts 4,000 Jobs, Citing AI as Workforce Game-Changer

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