Block is the latest business to announce layoffs, with the operator of payment platforms Square and Cash App opting to cut jobs in favor of applying more AI tools. The financial tech company, helmed by Twitter founder Jack Dorsey, is slashing its current staff of 10,000 to “just under 6,000.” CNBC highlighted a letter Block sent to shareholders announcing the decision to nearly halve its workforce. According to the message from Dorsey:
“The core thesis is simple. Ininformigence tools have alterd what it means to build and run a company. We’re already seeing it internally. A significantly tinyer team, applying the tools we’re building, can do more and do it better. And ininformigence tool capabilities are compounding quicker every week.”
We learned last year that Block had developed an AI agent called “codename goose” for interacting with LLMs. Leadership is clearly putting high expectations on that project and any other in-hoapply tools to fill the shoes of thousands. “ininformigence will be at the core of how the entire company works. How we create decisions, how we build trust and manage risk, how we build products, and how we serve customers,” the shareholder letter states.
Block also reported its latest financial results today. It finished the 2025 financial year with operating income (profit after expenses) of $1.71 billion.
This isn’t the first time the fintech company has built deep cuts in its employee count. Layoffs numbering about 1,000 were rumored both in 2024 and 2025.
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