Block Cut 4,000 Jobs While Revenue Grew, Citing AI Productivity Gains
Block reduced its workforce from 10,000 to 6,000 employees as CEO Jack Dorsey credited AI tools for enabling smaller teams to achieve more. The fintech giant's move signals a shift where companies justify layoffs with productivity improvements rather than revenue decline. Real Brokerage showed similar trends, cutting stock compensation costs by 80 basis points while maintaining growth.
ViaNews Editorial Team (Finance)•