--- title: Block shares soar as much as 24% as company slashes... description: Block (formerly Square) announced layoffs of over 4,000 employees, nearly half its global workforce, reducing headcount from 10,000+ to under 6,000. CEO Jack... canonical: https://daily.dev/posts/block-shares-soar-as-much-as-24-as-company-slashes-workforce-by-nearly-half-qfcbi6u0x twitter:card: summary_large_image twitter:site: @dailydotdev og:type: website og:site_name: daily.dev og:title: Block shares soar as much as 24% as company slashes workforce by nearly half | daily.dev og:description: Block (formerly Square) announced layoffs of over 4,000 employees, nearly half its global workforce, reducing headcount from 10,000+ to under 6,000. CEO Jack... og:url: https://daily.dev/posts/block-shares-soar-as-much-as-24-as-company-slashes-workforce-by-nearly-half-qfcbi6u0x og:image: https://api.daily.dev/og/posts/qfCbi6U0X.png og:image:alt: Block shares soar as much as 24% as company slashes workforce by nearly half og:image:width: 1200 og:image:height: 630 og:locale: en --- > ## Documentation Index > Fetch the complete documentation index at: https://daily.dev/llms.txt > Use this file to discover all available pages before exploring further. # Block shares soar as much as 24% as company slashes workforce by nearly half **[Tech Lead Digest](https://daily.dev/sources/techleaddigest)** · 3 min read · 0 upvotes · 0 comments ## Summary Block (formerly Square) announced layoffs of over 4,000 employees, nearly half its global workforce, reducing headcount from 10,000+ to under 6,000. CEO Jack Dorsey cited AI-driven efficiency gains as the primary driver, stating he expects most companies to make similar structural changes within a year. The stock surged as much as 24% in extended trading. The company also reported Q4 earnings in line with analyst expectations, with gross profit up 24% year-over-year, and issued full-year EPS guidance of $3.66 versus analyst estimates of $3.22. Block expects $450–$500 million in restructuring charges, mostly in Q1. ## Full article daily.dev links to this article rather than hosting it. Read it at the original source: ## Similar posts on daily.dev - [Atlassian follows Block’s footsteps and cuts staff in the name of AI](https://daily.dev/posts/atlassian-follows-block-s-footsteps-and-cuts-staff-in-the-name-of-ai-ck86atnpm) · TechCrunch · 0 upvotes · 0 comments - [Snowflake beat on almost everything. One number went the other way](https://daily.dev/posts/snowflake-beat-on-almost-everything-one-number-went-the-other-way-9i5vbnao1) · The Next Web · 0 upvotes · 0 comments --- Tags: [#ai-agents](https://daily.dev/tags/ai-agents), [#fintech](https://daily.dev/tags/fintech) [View this post on daily.dev](https://daily.dev/posts/block-shares-soar-as-much-as-24-as-company-slashes-workforce-by-nearly-half-qfcbi6u0x) ```json {"@context":"https://schema.org","@graph":[{"@type":"Organization","@id":"https://daily.dev/#organization","name":"daily.dev","url":"https://daily.dev","logo":{"@type":"ImageObject","url":"https://daily.dev/apple-touch-icon.png","width":180,"height":180},"sameAs":["https://twitter.com/dailydotdev","https://github.com/dailydotdev","https://www.linkedin.com/company/daily-dev-ltd"]},{"@type":"WebSite","@id":"https://daily.dev/#website","url":"https://daily.dev","name":"daily.dev","publisher":{"@id":"https://daily.dev/#organization"},"potentialAction":{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https://daily.dev/search?q={search_term_string}"},"query-input":"required name=search_term_string"}}]} {"@context":"https://schema.org","@type":"TechArticle","headline":"Block shares soar as much as 24% as company slashes workforce by nearly half","url":"https://daily.dev/posts/block-shares-soar-as-much-as-24-as-company-slashes-workforce-by-nearly-half-qfcbi6u0x","mainEntityOfPage":{"@type":"WebPage","@id":"https://daily.dev/posts/block-shares-soar-as-much-as-24-as-company-slashes-workforce-by-nearly-half-qfcbi6u0x"},"datePublished":"2026-03-01T19:13:52.658Z","dateModified":"2026-10-15T02:19:16.517Z","description":"Block (formerly Square) announced layoffs of over 4,000 employees, nearly half its global workforce, reducing headcount from 10,000+ to under 6,000. 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