Jack Dorsey’s Block to cut 4,000 jobs in AI-driven restructuring
27.02.2026
8893
Jack Dorsey’s payments company Block will cut over 4,000 of its staff, with its co-founder pinning the move on the rapid acceleration of AI.
Jack Dorsey’s Block to cut 4,000 jobs in AI-driven restructuring
Jack Dorsey’s payments company Block is axing over 4,000 staff — and the Twitter co-founder is blaming AI for the bloodbath. In a brutal X post, Dorsey said AI tools are “fundamentally changing what it means to build and run a company,” and he’s choosing to cut deep now rather than drag it out.
“I had two options: cut gradually over months or years as this shift plays out, or be honest about where we are and act on it now. I chose the latter. Repeated rounds of cuts are destructive to morale, to focus, and to the trust that customers and shareholders place in our ability to lead.” — Jack Dorsey
Laid-off employees aren’t being thrown to the wolves: they’ll get 20 weeks’ salary plus an extra week per year of tenure, six months of health care, their corporate devices, and a $5,000 transition bonus. Not bad for a pink slip.
Bloomberg had already sniffed this out earlier this month, reporting that up to 10% of Block’s workforce could get the chop during annual reviews. Looks like they were right — and then some.
- • Written by Stephen Katte, Staff Writer
- • Reviewed by Felix Ng, Staff Editor
- • Published 2 hours ago
#Innovations#Artificial Intelligence#Company Restructuring#Tech Layoffs#fintech
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