Jack Dorsey has announced sweeping layoffs at his financial services company Block, reducing its workforce by nearly half. The restructuring will impact over 4,000 employees, bringing the company’s headcount from more than 10,000 to just under 6,000.
In a message to staff, Dorsey described the move as one of the most difficult decisions in the company’s history. He said the cuts were not a response to financial strain, noting that gross profit and customer growth remain strong. Instead, he pointed to a shift in how companies operate, highlighting the growing role of artificial intelligence and smaller, flatter teams in reshaping business structures.
Amid the large-scale layoffs, an unusual development surfaced. Andrew Harvard, an employee who had publicly shared that he was affected, later revealed that his termination had been due to a clerical mistake. According to his post on X, company leadership contacted him to clarify the error and offered reinstatement, which he accepted.
Dorsey acknowledged the emotional toll of the decision. He apologised to departing employees and stated that the layoffs were not a reflection of their contributions. A severance package of 20 weeks’ salary has been offered to those leaving. Communication access will remain temporarily open to allow employees to say goodbye.
For those staying, Dorsey said he would take responsibility for the decision and urged them to help build a more agile, intelligence-driven company. The restructuring marks a significant pivot as Block adapts to rapid technological change and evolving workplace models.
