Block Cuts 4,000 Jobs Citing AI

Block said on Feb. 27, 2026 it will cut more than 4,000 jobs, trimming staff from over 10,000 to just under 6,000, and forecast $450–$500 million in restructuring charges. CEO Jack Dorsey said the cuts embed artificial intelligence across operations; the company reported a 24% gross-profit rise and after-hours shares jumped 25%. The move signals AI-driven productivity reshaping workforce planning.