Jack Dorsey Lays Off 4,000 Employees After Move to AI

"Today we're making one of the hardest decisions in the history of our company: we're reducing our organization by nearly half, from over 10,000 people to just under 6,000. That means over 4,000 of you are being asked to leave or entering into consultation."

"We're not making this decision because we're in trouble. our business is strong. Gross profit continues to grow, we continue to serve more and more customers, and profitability is improving. But something has changed."

"We're already seeing that the intelligence tools we're creating and using, paired with smaller and flatter teams, are enabling a new way of working which fundamentally changes what it means to build and run a company, and that's accelerating rapidly."

"Within the next year, I believe the majority of companies will reach the same conclusion and make similar structural changes."

Jack Dorsey, CEO of Block Inc, announced the company is reducing its workforce by nearly half, from over 10,000 to under 6,000 employees. Despite Block's strong financial position, growing gross profit, and improving profitability, Dorsey stated the restructuring is necessary because AI tools and smaller teams enable a fundamentally new way of working. He warned that companies not making similar structural changes are "late" and predicted most companies will reach the same conclusion within a year. Dorsey emphasized the business remains sound, but intelligence tools paired with leaner operations are accelerating organizational transformation across the industry.

Read at Futurism