Jack Dorsey's Block cuts 40% of staff, 4,000+ people — and yes, it's because of AI
2026-02-26 · VentureBeat
Block's CEO Jack Dorsey announced axing nearly half the workforce citing 'intelligence tools' after December's AI models got 'an order of magnitude more capable.' Shares jumped 24% on the news, because nothing makes Wall Street happier than 4,000 fewer humans. Dorsey predicts most companies will do the same within a year.