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PGBlock Slashes Workforce by Nearly Half in Bold AI Move
Jack Dorsey, CEO of Block (the company behind Square and Cash App), just announced a major shake-up: cutting the team from over 10,000 to under 6,000 people. That's more than 4,000 roles impacted.
Why now? Dorsey says AI tools and flatter teams are changing how companies work — letting smaller groups do way more, faster. He calls it a "new way of working" that's accelerating fast. The business is strong (growing profits, happy customers), but he chose one big, clear cut instead of slow, repeated layoffs to protect morale and focus.
Affected team members get solid support: 20 weeks' pay + extra per year of service, equity vested through May, 6 months of health coverage, devices kept, and $5,000 transition help.
Markets loved it Block's stock jumped over 20-25% after the news.
Dorsey's message: This isn't about trouble; it's about building smarter for the future with AI at the core. He thanked everyone leaving and asked those staying to build the next chapter together.
Big moment in tech AI reshaping jobs faster than ever. What do you think: smart strategy or sign of bigger changes ahead?
@pg_agi_
