In a 600-word X post, Jack Dorsey justifies his decision to lay off 40% of Block’s workforce

The all-lowercase public letter to staff elaborates on why Dorsey slashed headcount at the fintech company by thousands—to embrace AI.

[Photos: Joe Raedle/Getty Images; Samuel Boivin/NurPhoto via Getty Images]

On Thursday, Block CEO Jack Dorsey announced that his fintech company, which owns Square and Cash App, would be laying off a whopping 40% of its workforce, slashing over 4,000 jobs.  

Despite a “strong year” in 2025, Dorsey—like many of his tech executive peers—believes AI will enable greater........

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