In a 600-word X post, Jack Dorsey justifies his decision to lay off 40% of Block’s workforce

On Thursday, Block CEO Jack Dorsey announced that his fintech company, which owns Square and Cash App, would be laying off a whopping 40% of its workforce, slashing over 4,000 jobs. Despite a “strong year” in 2025, Dorsey—like many of his tech executive peers—believes AI will enable greater efficiency with far fewer workers. “Intelligence tools have changed what it means to build and run a company,” he wrote in a letter to shareholders. “We’re already seeing it internally. A significantly smaller team, using the tools we’re building, can do more and do it better.”  A number of business lead...