Block Cuts 40% of Workforce as AI Replaces Operations Teams Across Fintech
Block is reducing headcount from over 10,000 to under 6,000 employees as AI systems take over payment processing and operational roles. The company's stock jumped 22% on February 26, 2026, following CEO Jack Dorsey's announcement that AI enables "a new way of working." Financial services firms are deploying AI agents that cut customer service response times to under 10 seconds.
ViaNews Editorial Team (Finance)•