Investing.com — Block (NYSE: XYZ), the parent company of Cash App and Square, continues to cut jobs months after CEO Jack Dorsey announced plans to eliminate nearly half of the company’s workforce.
Posts on LinkedIn and other social media platforms suggest another round of layoffs is underway, though the cuts appear more targeted than February’s sweeping reduction.
Block did not immediately respond to a request for comment.
However, it may prompt questions about whether the February restructuring was enough to achieve Dorsey’s vision of a much smaller, AI-powered organization.
The reports are notable because Dorsey explicitly said the February cuts would be immediate, rather than a gradual process stretching over months or years.
At the time, he said he had two options: reduce staffing gradually as AI transformed the business or make the difficult decisions upfront. He chose the latter, arguing that repeated rounds of layoffs would damage employee morale, company focus and shareholder confidence.
“We’re not making this decision because we’re in trouble. Our business is strong,” Dorsey wrote in his February message to employees.
Block’s latest regulatory filing suggests the company is still pursuing that strategy. In its third-quarter filing, Block said it planned to continue improving efficiency through AI automation, prioritizing projects, performance management and centralizing teams to eliminate duplicated roles.
The company also disclosed immaterial severance and related expenses during the third quarter tied to these additional efforts, which it specifically said were separate from the February workforce reduction plan.
Block added that the original restructuring was completed during the second quarter and that it did not expect additional material charges related to that plan.
The February restructuring reduced Block’s workforce from more than 10,000 employees to just under 6,000, eliminating more than 4,000 positions.
The latest cuts come as Block’s business continues to grow. On Tuesday, the company raised its full-year 2026 gross profit outlook to $12.63 billion, representing 22% annual growth, following strong performance from Cash App and Square.
It remains unclear how many additional employees may be affected by the cuts or which departments are involved. Block’s latest filing, however, suggests February’s workforce reduction was not the end of its efforts to build a leaner, increasingly AI-driven organization.
Original Article
Block cutting more jobs months after Jack Dorsey’s massive AI-driven layoffs