BLOCK CUTS 4,000 JOBS AS CEO CITES AI-DRIVEN SHIFT IN HOW COMPANIES OPERATE
Block is laying off over 4,000 employees, reducing headcount from 10,000 to just under 6,000 in what CEO Jack Dorsey called "one of the hardest decisions in the history of our company." Affected employees will receive 20 weeks salary plus one week per year of tenure, equity vested through May, six months healthcare, corporate devices, and $5,000 in transition support.
Dorsey emphasized the cuts are not driven by business distress as gross profit continues growing, the customer base is expanding, and profitability is improving. Instead, he cited a fundamental shift in how companies can operate: intelligence tools paired with smaller, flatter teams are enabling "a new way of working which fundamentally changes what it means to build and run a company."
Rather than managing gradual cuts over months as AI-driven efficiency plays out, Dorsey opted for immediate action to avoid the "destructive" impact of repeated layoff rounds on morale and focus. He acknowledged the decision carries risk and that some calls may be wrong, but said the company has built in flexibility to correct course.
Bitcoin is now near one of the lowest readings ever on the Relative Strength Index 👀
Translation: Bitcoin is at historically oversold levels.
Buy. The. Freaking. Dip. 👏
BLACKROCK CEO LARRY FINK: "There is a role for gold and there is a role for Bitcoin."
"You own these assets if you're frightened of currency debasement."
$BTC
💥 UPDATE
PRESIDENT PUTIN HAS JUST SIGNED A NEW LAW THAT TREATS CRYPTO AS "INTANGIBLE PROPERTY"
This enables courts to seize and freeze digital assets in criminal cases!
$BTC
🚨 BREAKING:
🇺🇸 WHITE HOUSE JUST CONFIRMED THAT PRESIDENT TRUMP WANTS TO MAKE 05 TAX ON CRYPTO AND $BTC
THIS BILL MAY INJECT OVER $600 BILLION INTO THE MARKET
GIGA BULLISH FOR CRYPTO!!
Nvidia, the world’s most valuable company, gave another bullish quarterly revenue forecast, signaling that the massive build-out of AI computing remains on track https://t.co/mMKp7Ig40b