tech

February 27, 2026

Block lays off 40% of workforce as it goes all-in on AI tools

CEO says “most companies are late” to realize how much technology will affect employment.

Block lays off 40% of workforce as it goes all-in on AI tools

TL;DR

  • Block is cutting nearly 4,000 jobs, reducing its workforce by close to 50%.
  • CEO Jack Dorsey attributes the cuts to the transformative impact of AI tools on business operations.
  • Dorsey believes most companies are behind in recognizing AI's potential to replace human workers.
  • The decision comes amid wider concerns about AI-driven job losses.
  • Block reported strong financial performance but incurred losses on its bitcoin holdings.
  • The company maintains a contrarian strategy favoring bitcoin over stablecoins.

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