Block Cuts 4,000 Jobs as AI Replaces Half Its Workforce
Block Inc. is reducing headcount from over 10,000 to under 6,000 employees, citing AI systems that enable a new operational model. CEO Jack Dorsey's announcement triggered a 22% stock surge on February 26, 2026, signaling investor approval of AI-driven cost reduction. The move reflects a broader fintech trend where AI automation is replacing 40-50% of traditional financial services roles.
ViaNews Editorial Team (Finance)•