Fintech company Block lays off 4,000 of its 10,000 staff, citing gains from AI

Shares in the financial technology company Block have soared more than 20% in after-hours trading after its CEO announced it ...

Block lays off nearly half its staff because of AI. Its CEO said most companies will do the same

Block, the company behind Square, Cash App and Afterpay, is cutting its staff by 40%. The reason: “intelligence tools,” according to a letter to shareholders by co-founder Jack Dorsey.

Block to Cut 4,000 Workers as AI Replaces Jobs -- Update

Block expects adjusted earnings to be $3.66 a share for the fiscal year, which would be above the $3.19 consensus estimate. The company anticipates first-quarter adjusted earnings will be 67 cents a ...

Block to cut more than 4,000 jobs amid AI disruption of the workplace

The company plans to off thousands of people as AI changes the way people work.
Bitcoin Magazine

Block (XYZ) Surges 25% After Slashing Workforce by Over 40% and Raising Profit Outlook

Shares of Block trade under the ticker XYZ are up 25% aftermarket on the news.
PRIMETIMER on MSN

Why is Block laying off nearly half its staff? Reasons explained

Block cuts 40% of its workforce as Jack Dorsey cites AI-driven restructuring, saying the company remains financially strong despite eliminating over 4,000 jobs ...
CoinDesk

MARA and Block jump double digits in pre-market trading while CoreWeave sinks

Earnings season is wrapping up with a mixed bag of results across crypto miners, AI infrastructure plays and fintech names, ...