“Jack Dorsey’s Block to Cut 4,000 Jobs (AI Drives Biggest Layoff Yet as Tech Reshapes Workforce)
Jack Dorsey has said that his tech company Block Inc. will lay off almost half of its workers, going from about 10,000 to fewer than 6,000. He says that AI is changing the way companies are built and run. In a letter to shareholders, he said that many other companies are likely to make similar changes to their structures. This is the first time Block has said that AI is to blame for job cuts, even though there have been layoffs since 2024. Block, which owns Square, Cash App, and Tidal, said that demand for its products is high and profits are rising. However, it expects to spend up to $500 million on restructuring. Its shares rose by more than 20% in after-hours trading. The news comes after a lot of layoffs in the tech industry, including at Amazon, Meta, Microsoft, and Google. Companies are putting more money into AI, and Mark Zuckerberg says that AI-driven automation tools like Anthropic’s Claude Code and OpenAI’s Codex will change the way people work in 2026.
