Jack Dorsey-led Block is laying off 4,000 employees
Block Inc.—the company behind Square and Cash App—is letting go of 4,000 employees, nearly 40% of its team.
The move isn't about money troubles; CEO Jack Dorsey says new AI tools mean smaller teams can get more done.
One source called it one of the most significant AI-driven workforce reductions in S&P 500 history.
Dorsey thinks AI will soon reshape the corporate world
Block's business is still booming: gross profit was $2.87 billion in Q4 2025, up 24% year over year, and their stock shot up nearly 18% after the news.
Dorsey believes other companies will soon follow Block's lead on using AI to reshape their teams.
Block's bold move toward blockchain tech
Block didn't just change its name from Square in 2021—they doubled down on blockchain tech, even pledging to invest 10% of its gross profit from bitcoin products into bitcoin in 2024.
For a fintech giant, that's a pretty bold move toward the future.