Jack Dorsey just halved the size of Block’s employee base — and he says your company is next

Block, the payments company founded by Jack Dorsey that operates Square, Cash App, and Tidal, announced it is laying off more than 4,000 employees, reducing its global workforce from over 10,000 to under 6,000. Investors reacted positively, sending the stock up over 24% in after-hours trading. Dorsey framed the cuts as a proactive measure to avoid repeated, morale-damaging rounds of layoffs, predicting that most companies will eventually make similar reductions. The company officially stated the cuts are intended to position Block to "move faster with smaller, highly talented teams using AI to automate more work." This move mirrors Elon Musk's 50% staff reduction at Twitter in 2022, a company in which Dorsey remains a significant investor.

(Source：TechCrunch)