Jack Dorsey Cuts 4,000+ Jobs at Block, Cites AI Efficiency

What Happened Block, formerly known as Square, will undergo one of the largest workforce reductions in recent tech history. CEO Jack Dorsey announced the decision via social media, emphasizing that the company’s financial health remains strong. “We’re not making this decision because we’re in trouble,” Dorsey wrote. “Our business is strong. Gross profit continues to grow, we continue to serve more and more customers, and profitability is improving. But something has changed.