Oakland-based Block, the Jack Dorsey-run tech giant behind Square and Cash App, is laying off almost half its sprawling workforce — and Dorsey delivered the news with a giant warning for the rest of tech’s workers.
The CEO announced in his annual letter to Block shareholders on Thursday that the company is cutting “nearly half” of its 10,000-plus employees, with more than 4,000 people being “asked to leave or entering into consultation.” The drastic layoff, far larger than March 2025’s 931-worker cut, comes despite Block turning a $1.3 billion profit over what Dorsey called a “strong year.”
Dorsey acknowledged this successful trajectory, then explained why he’s throwing such a huge wrench into the company: the advent of artificial intelligence tools…