Software stocks have plunged this year on fears of AI disruption. Block seemed to confirm those fears by announcing mass layoffs as it pivoted AI. Software stocks fell on the news, but it's likely to ...

Payments company Block announced it’s laying off 40% of its staff. According to Chairman and founder Jack Dorsey: “This decision comes from a position of strength. Intelligence tools have changed what ...

Block's stock surged 19% after strong Q4 results and raised guidance, despite cutting 4,000 jobs (40% of its workforce). The company attributes these layoffs to AI tools, aiming for a leaner, ...