Odaily Planet Daily reports that fintech company Block announced a large-scale layoffs plan. Co-founder Jack Dorsey stated that the company will cut nearly 4,000 jobs, reducing the total number of employees from over 10,000 to less than 6,000, in order to promote a leaner, flatter, AI-centric organizational structure.
Dorsey said that although the company’s financial health is solid and gross profit continues to grow, artificial intelligence and intelligent tools are profoundly changing the way the company operates, necessitating a comprehensive restructuring. He noted that large-scale adjustments carry risks, but maintaining the status quo also poses risks. The company has conducted a thorough assessment of staffing needs.
Unlike gradual layoffs, Block has chosen to implement a one-time large-scale reduction to avoid long-term uncertainty affecting employee morale. Affected employees will receive 20 weeks of basic compensation plus additional compensation based on their years of service.
Following the announcement, Block’s stock price rose over 20% in after-hours trading. The company’s closing price that day was $54.53, with a current market capitalization of approximately $31 billion. Over the past year, the stock has declined about 16%.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Spot Bitcoin ETFs break 4-week inflow streak as capital avoids ‘directional risk’
Spot Bitcoin exchange-traded funds (ETFs) snapped a four-week inflow streak, posting $296.18 million in net outflows for the week ending Friday.
The reversal follows a sustained run of inflows totaling more than $2.2 billion across four consecutive weeks, including $787.31 million, $568.45 million
Cointelegraph8m ago
Bitcoin Adoption Expands with South African Airways Onboard
Bitcoin adoption is taking a meaningful step forward in Africa as South African Airways introduces crypto payments for flight bookings. In early 2026, the airline confirmed that customers can now pay using Bitcoin through its website and mobile app. As a result, it has become the first major airline
Coinfomania38m ago
Dogecoin ETF Sees Zero Inflows as Traders Hold Through Dip
Key Insights
The Dogecoin ETF recorded zero inflows for eight straight days despite price volatility, signaling hesitation among institutional-style investors toward meme coin exposure products.
Traders accumulated millions of DOGE during price dips, indicating continued confidence in the
CryptoFrontNews40m ago
Revolut Stablecoin Volume on Polygon Tops $1.2B
Revolut's stablecoin volume on Polygon exceeds $1.2 billion, reflecting rapid adoption of blockchain for everyday payments. With low fees and quick transactions, stablecoins are revolutionizing finance. Revolut's expansion plans may enhance its status as a major fintech player.
Coinfomania1h ago
Bitcoin ETF ends with seven straight red days, and renewed downward pressure hits the Bitcoin price
Recently, after experiencing a net inflow for seven consecutive trading days, the U.S. Bitcoin spot ETF saw a significant outflow, with a net outflow of $163.5 million on the 18th and another outflow of $51.9 million on the 19th, indicating a simultaneous weakening of market capital and prices. Bitcoin's price briefly fell below $70,000, highlighting that the fund flows of the ETF can no longer support its rebound, and the deteriorating macro environment is putting pressure on risk assets, causing a noticeable contraction in investor preference. The testing of the $70,000 threshold has become a barometer for short-term market sentiment.
区块客2h ago
Digital Assets ETP Landscape: Past, Present and Future
Digital asset ETPs saw a peak of over $250B, ending 2025 with $184B AUM, mainly driven by Bitcoin products. The market is evolving, with over 125 new filings indicating a trend toward diversified asset offerings.
CoinDesk2h ago
