Block trims 40% of its workforce while eyeing AI-led hiring
TL;DR Summary
Block cut about 40% of its staff, shrinking from roughly 10,000 to just under 6,000, while saying AI tools have enabled a weeks‑worth of engineering work to be completed in a fraction of the time. Dorsey says the company will still hire senior AI engineers to boost product and engineering capabilities, and the stock rose after hours.
- Jack Dorsey just laid off 40% of staff. He said he's still hiring AI engineers. Business Insider
- Block lays off nearly half its staff because of AI. Its CEO said most companies will do the same CNN
- Earnings live: Block stock surges after Jack Dorsey cuts 40% of workforce, Duolingo shares drop premarket Yahoo Finance
- Block shares soar as much as 24% as company slashes workforce by nearly half CNBC
- Dorsey's radical workforce reset may embolden CEOs Axios
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