Jack Dorsey’s Block Slashes 40% of Jobs in Sweeping Cost-Cut Push
Crypto Economy 27 Feb 2026
Dorsey said the layoffs reflect an AI pivot and “agentic workflows,” preferring one decisive cut and arguing “100 people + AI = 1,000 people.” Shares jumped 20% to 23% and added $6 billion in market cap, while critics questioned priorities and Block offered 20 weeks’ pay plus benefits ... Markets rewarded the announcement fast.

