Block lays off about 4,000 employees, cutting nearly 40% of workforce

Block is laying off about 4,000 employees, reducing its workforce by roughly 40%. The company said the restructuring reflects a shift toward smaller teams and increased use of AI-driven productivity tools. CEO Jack Dorsey framed the cuts as part of a broader operating-model reset, with the company choosing one larger round rather than multiple smaller rounds. The move is tied to Block's effort to streamline operations and improve efficiency after reporting stronger earnings momentum.