Block lays off 40% staff after CEO Jack Dorsey calls layoffs 'destructive to morale'
Block, led by CEO Jack Dorsey, has drastically cut its workforce by nearly half, impacting over 4,000 employees. Dorsey cited a shift towards leaner, AI-driven operations as the reason, preferring a single, decisive layoff to avoid prolonged uncertainty and morale damage. Generous severance packages are being offered to departing staff.
Block, led by CEO Jack Dorsey, has drastically cut its workforce by nearly half, impacting over 4,000 employees. Dorsey cited a shift towards leaner, AI-driven operations as the reason, preferring a single, decisive layoff to avoid prolonged uncertainty and morale damage. Generous severance packages are being offered to departing staff.
