Block shares soar as much as 24% as company slashes workforce by nearly half

"Today we shared a difficult decision with our team," Jack Dorsey, Block's co-founder and CEO, wrote in a letter to ...

Here is how Block's severance package compares to other tech companies in past layoffs

Block earned some praise for its "relatively generous" severance package. Here is a look at what other Big Tech companies ...

Block lays off nearly half its staff because of AI. Its CEO said most companies will do the same

Block, the company behind Square, Cashapp and Afterpay, is proactively slashing 40% of its workforce because of advances in AI. Will other companies follow suit? Tech expert Lance Ulanoff tells CNN’s ...

Jack Dorsey’s Block to Lay Off 40% of Its Workforce in AI Remake

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