40% reduction | Block CEO Jack Dorsey cites AI as key driver for 4,000 job cuts

Payment technology firm Block, founded by former Twitter exec Jack Dorsey, is cutting almost half its workforce, saying AI is reshaping how the company operates, marking one of the most significant AI-linked job reductions in the tech sector.

The move will reduce headcount to fewer than 6,000 employees from 10,000 across the business, which owns Square, CashApp, and Tidal. The company has conducted several rounds of layoffs since 2024, although this is the first time it has explicitly cited AI as the primary driver.