Jack Dorsey announces a significant workforce reduction at Block, eliminating over 4,000 jobs—nearly half of its staff—due to an AI-driven structural shift. In a post on X, he stated, “We’re not making this decision because we’re in trouble. Our business is strong.” Affected employees will receive severance packages, including 20 weeks of salary, health coverage, and corporate devices. Dorsey emphasizes a commitment to rebuilding Block with "intelligence at the core."