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

"The core thesis is simple. Intelligence tools have changed what it means to build and run a company. We're already seeing it internally. A significantly smaller team, using the tools we're building, can do more and do it better. And intelligence tool capabilities are compounding faster every week."

"intelligence will be at the core of how the entire company works. How we make decisions, how we build trust and manage risk, how we build products, and how we serve customers."

Block, the fintech company operating Square and Cash App, announced significant layoffs reducing its workforce by approximately 40%, from 10,000 to just under 6,000 employees. CEO Jack Dorsey stated that AI intelligence tools have fundamentally changed how companies operate, enabling smaller teams to accomplish more with greater efficiency. Block plans to leverage internally developed AI tools, including an AI agent codenamed "goose," to handle tasks previously performed by human staff. The company intends to integrate intelligence tools throughout all operations, from decision-making to product development and customer service. Block reported $1.71 billion in operating income for 2025 and has conducted similar workforce reductions in previous years.

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