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Block Fires 40% of Its Workforce and Wall Street Throws a Party
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Block Fires 40% of Its Workforce and Wall Street Throws a Party
Jack Dorsey just cut 4,000 employees from Block — roughly 40% of the company’s entire workforce — and the stock surged 24% after hours. Billions in market value appeared overnight. Not because the business was struggling. Because Dorsey told investors, with zero apology, that AI had made thousands of his people unnecessary. “Intelligence tools have changed what it means to build and run a company,” Dorsey wrote. He didn’t blame a downturn. He di…
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