Jack Dorsey’s Block Cuts Nearly Half of Its Staff in AI Gamble

The firm is set to reduce its workforce by over 4,000 positions. Jack Dorsey’s company, Block, which operates Square and the Cash app, plans to reduce its staff by nearly half, cutting more than 4,000 jobs. The workforce will decrease from over 10,000 to under 6,000, as noted in a post by Dorsey on X, citing AI as the reason. Dorsey emphasized that the layoffs are not due to financial distress, stating, “Our business is strong. Gross profit continues to grow, customer service expands, and profitability improves. However, the new intelligence tools we are developing are changing how we operate, prompting rapid acceleration.” Dorsey preferred a decisive action over gradual cuts, aiming to build from a position of strength. The announcement coincided with the Q4 2025 earnings release, where in a shareholder letter, Dorsey conveyed, “We believe Block will be more valuable as a smaller, faster, intelligence-driven company. Our future actions will reflect that goal.”