Jack Dorsey’s Block to cut 4,000 jobs amid AI-driven shift
Jack Dorsey’s payments firm Block plans to cut more than 4,000 jobs as part of a restructuring tied to accelerated adoption of artificial intelligence, according to a company letter shared by its co-founder on X.
Earlier this month, Bloomberg reported that about 10% of Block’s workforce could be reduced during annual performance reviews as part of a broader overhaul. Readers interested in online advertising and its impacts can read more about it here.
In the letter, Dorsey said that new intelligence tools and a shift to smaller, flatter teams are rapidly changing how the company is built and operated. He added that he chose to implement reductions now rather than make multiple rounds of cuts over an extended period.
Impacted employees will receive 20 weeks of salary plus one additional week per year of tenure, six months of healthcare coverage, the ability to keep corporate devices, and a $5,000 stipend to support their transition, Dorsey said.
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