Jack Dorsey Block, the financial technology company that runs Square and Cash Apps, is cutting its workforce by “nearly half” and eliminating more than 4,000 jobs. The company will shrink from more than 10,000 people to less than 6,000, Dorsey says in a post on X. And the reason why? Ai.
“We’re not making this decision because we’re in trouble,” says Dorsey. “Our business is strong. Gross profit is growing, we’re serving more and more customers, and profitability is improving. But something has changed. We’re already seeing that the intelligence tools we’re building and using, combined with smaller and flatter teams, are enabling a new way of working that fundamentally changes the way we build and run a company.” “Changes the meaning. And it’s growing rapidly.”
Dorsey opted to make one major layoff rather than gradual cuts because “I would prefer to take a drastic, clear action now and build from a position we believe in, rather than manage the slow cuts of people toward the same result.”
The layoffs were announced Thursday as part of the company’s Q4 2025 earnings call. In a shareholder letter, Dorsey it is said so “We believe Block will be significantly more valuable as a smaller, nimbler, intelligence-native company. Everything we do from here is in service of that.”
