Jack Dorsey has axed thousands of workers at Block, the parent company of Cash App, Square and Afterpay, in a move signaling a major shift toward artificial intelligence. In a note to staff, Dorsey explained that Block would be taking on risk by investing in 'intelligence tools,' as the company cut more than 4,000 employees on Thursday. However, alongside that success came new ways for the company to integrate its intelligence tools with smaller teams, leading to massive layoffs. He added that a smaller company also creates an opportunity to grow 'the right way, on our own terms, instead of constantly reacting to market pressures.' We're going to build this company with intelligence at the core of everything we do.

Source: Daily Mail February 27, 2026 06:25 UTC