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March 2, 2026

Block lays off 4,000, citing AI

BANGKOK (AP) — Shares in the financial technology company Block soared more than 20% in premarket trading Friday after its CEO announced it was laying off more than 4,000 of its 10,000 plus employees, reconfiguring to capitalize on its use of artificial intelligence.

Jack Dorsey said that a “significantly smaller team, using the tools we're building, can do more and do it better.”


 
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