Jack Dorsey's Block Cuts 4,000 Jobs to Focus on AI Efficiency

Jack Dorsey's fintech company Block is cutting over 4,000 jobs, or 40% of its staff, to transition toward a smaller workforce powered by AI.The parent company of Square and Cash App saw its shares jump 24% following the news, despite reporting a gross profit of over $10 billion in 2025.Jack Dorsey stated the layoffs are a proactive move to improve efficiency using "intelligence tools" and expects other tech firms to follow this trend.