Jack Dorsey's Block to Lay Off 40% of Its Workforce in AI Remake

2026-02-27

Block plans to lay off 40% of its workforce - more than 4,000 employees. Founder Jack Dorsey alluded that AI tools were the reason for the cuts in a letter to shareholders. He claims that the decision to cut jobs wasn't because the company is in trouble. Block has delivered mixed results in recent years as it faces tough competition.