Block plans to lay off nearly half its staff in ‘deliberate and bold’ embrace of AI

Block’s stock surges 20% as Wall Street rewards massive job cuts at the parent company of Square and the Cash App.
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Block (XYZ) Surges 25% After Slashing Workforce by Over 40% and Raising Profit Outlook

Shares of Block trade under the ticker XYZ are up 25% aftermarket on the news.

Block, the parent of Square and Cash App, is laying off over 4,000 people

Block is the latest business to announce layoffs, with the operator of payment platforms Square and Cash App opting to cut jobs in favor of using more AI tools. The financial tech company, helmed by ...

Block to Cut 4,000 Workers as AI Replaces Jobs -- Update

Block expects adjusted earnings to be $3.66 a share for the fiscal year, which would be above the $3.19 consensus estimate. The company anticipates first-quarter adjusted earnings will be 67 cents a ...

Block stock soars 20%+ after slashing headcount, delivering strong 2026 guidance

Block (XYZ) stock jumps 23% after strong Q1 and 2026 guidance. Get key earnings highlights, gross profit beats, and what’s ...