Shares of the payment company skyrocketed as much as 24% in extended trading. It was last seen up nearly 18% in Friday's ...

Shares in the financial technology company Block have soared more than 20% in after-hours trading after its CEO announced it ...

Block cuts 40% of its workforce as Jack Dorsey cites AI-driven restructuring, saying the company remains financially strong despite eliminating over 4,000 jobs ...

Block announced it will lay off 40% of its workforce as it shifts focus toward expanding its use of artificial intelligence.

Current, former employees say AI cannot replace the thousands of workers made redundant in Block's major restructuring ...

The company said the plan would cost it $450 million to $500 million in expenses and severance.

The Arizona impact of Block Inc.'s massive layoffs is coming into focus. Block is the company behind fintech brands Square and Cash App.

Financial tech firm Block’s stock surged as much as 20% in Friday trading after its billionaire CEO Jack Dorsey revealed plans for sweeping layoffs and a full embrace of AI tools. Dorsey, best known ...

The layoffs were first announced in a shareholder letter on Thursday, after which CEO Dorsey shared the news on his handle on X. It also coincided with the company’s December quarter results, in which ...