Block Inc. will cut more than 4,000 employees, reducing its global workforce to under 6,000 as it restructures around artificial intelligence. The announcement, made by co-founder Jack Dorsey, sent shares up more than 24% in after-hours trading.
we’re making @blocks smaller today. here’s my note to the company.
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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…
— jack (@jack) February 26, 2026
Block operates Square, Cash App, and Tidal, and previously employed over 10,000 workers. Chief Financial Officer Amrita Ahuja said the reductions aim to enable smaller, highly skilled teams to use AI tools to automate more functions and accelerate execution.
Dorsey framed the move as proactive rather than financially driven, stating that repeated incremental cuts undermine morale and focus. U.S. employees will receive 20 weeks of salary plus one additional week per year of tenure, along with extended health benefits and equity vesting through May.
The decision mirrors broader industry trends. Companies ranging from Pinterest to Amazon have also reduced headcount while citing AI-driven productivity gains, as tech firms recalibrate workforce strategies around automation.
