Block, Led by Bitcoin Pioneer Jack Dorsey, Announces Major Staff Cuts and AI-Era Reorganization
Block, Led by Bitcoin Pioneer Jack Dorsey, Announces Major Staff Cuts and AI-Era Reorganization
Block, the company founded by Bitcoin pioneer Jack Dorsey, is undergoing a significant corporate restructuring, including a nearly 50% staff reduction. CEO Jack Dorsey informed employees of plans to cut over 4,000 roles, reducing the workforce from more than 10,000 to under 6,000. This reorganization is part of an initiative to align Block around an “AI-era” operating model.
Block shares jumped more than 20% in premarket trading after CEO Jack Dorsey told employees the company will cut more than 4,000 roles and reorganize around an “AI-era” operating model. The reduction takes Block from more than 10,000 employees to just under 6,000 (“nearly half,” in Dorsey’s wording), while the company’s 8-K describes a “Workforce […]
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