Jack Dorsey’s Block Slashes Nearly Half Its Staff in AI Bet (4)

Jack Dorsey’s Block is cutting 4,000 employees, reducing its workforce by nearly half, in a move the financial technology firm is describing as a bet on artificial intelligence changing the future of labor productivity.

Block has been restructuring its business model and staffing since 2024 as the company’s stock has lagged. At the same time, the company has invested heavily in AI tools to run more efficiently, including building its own tool called Goose.

The reduction in force, which was announced in a shareholder letter on Thursday, comes after rolling job eliminations that have often been tied to annual performance ...