Block, the financial technology company led by Twitter co-founder Jack Dorsey, said it will cut more than 4,000 jobs globally as artificial intelligence tools reshape how the company operates.
Dorsey said advances in “intelligence tools” are allowing smaller teams to accomplish more work efficiently, fundamentally changing how companies are built and run. He added that while Block is already seeing these effects internally, many other companies are still behind in recognizing the shift.
The layoffs represent one of the largest workforce reductions in the company’s history. Dorsey said the decision was not driven by financial distress, noting that Block’s gross profit, customer base, and overall profitability continue to grow.
we're making @blocks smaller today. here's my note to the company.
— jack (@jack) February 26, 2026
####
today we're making one of the hardest decisions in the history of our company: we're reducing our organization by nearly half, from over 10,000 people to just under 6,000. that means over 4,000 of you are…
Instead of implementing multiple smaller layoffs over time, Block chose to carry out a single large round of cuts. Dorsey said repeated layoffs can harm morale, disrupt focus, and weaken trust among employees, customers, and shareholders.
Affected employees will receive at least 20 weeks of pay, additional compensation based on tenure, six months of healthcare coverage, their corporate devices, and $5,000 in transition assistance.
Founded in 2009 as Square and renamed Block in 2021, the company said it expects restructuring charges of approximately $450 million to $500 million as part of the workforce reduction.