Block trims 4,000 jobs as AI tools boost efficiency and profitability

Fintech group Block will lay off about 4,000 of its 10,000 employees, saying AI-driven productivity supports a smaller, faster team and will boost profitability. CEO Jack Dorsey stressed the cuts are not due to trouble, noting strong Q4 revenue of $6.25 billion, but the move fits a broader tech trend of AI-fueled layoffs amid concerns over employment and implementation risks. The decision follows earlier rounds of job cuts and comes as investors pushed Block shares higher in pre-market trading; Block also faces warnings in its 10-K about potential AI-related operational and cybersecurity risks and morale issues raised by employees.