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The Latest Breaking News from Block

CEO Says AI is Main Reason For Laying Off Nearly Half of His Employees: 'Can Do More And Do It Better'

Block CEO Jack Dorsey announced that he was laying off 40 percent of the company's workforce, citing improved efficiency from AI as the reason.

International Business Times

Jack Dorsey Announces 4,000 Job Cuts at Block as AI Push Sends Shares Soaring

Jack Dorsey plans to cut 4,000 jobs at Block, citing AI-led efficiency. The move has excited investors, with shares surging 27% post-announcement.

International Business Times UK

'We see an opportunity to move faster with smaller, highly talented teams using AI to automate more work': Block decimates workforce in favor of AI

Jack Dorsey's Block will remove 4,000 workers from its 10,000-strong team, all because AI can get the job done for less.

TechRadar

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Jack Dorsey's Block cuts roughly 50% of jobs as it embraces AI and shares jump

Block CEO Jack Dorsey has announced a radical restructuring that will see nearly half of the company’s workforce made redundant. Shares surged by 23.5% in after-hours trading.

Euronews

Asian shares are mixed after Nvidia's losses pull Wall St lower, as AI-linked layoffs rattle markets

Shares are mixed in Asia after the worst day for Nvidia’s stock since last spring dragged the U.S. market lower

The Independent UK

Fintech company Block lays off 4,000 of its 10,000 staff, citing gains from AI

Shares in the financial technology company Block have soared more than 20% in after-hours trading after its CEO announced it was laying off more than 4,000 of its 10,000 some employees due to efficiency gains from artificial intelligence

The Independent UK

Jack Dorsey fires nearly half the staff at Block as he goes fully in on AI

Block, which owns payment service Cash App, went from more than 10,000 employees to just under 6,000 Thursday

The Independent UK

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Block, Inc. Stock: Is Wall Street Bullish or Bearish?

Block, Inc. has notably underperformed the broader market over the past year, but analysts are cautiously optimistic about the stock’s prospects.

Barchart

Earnings Preview: What to Expect From Block's Report

Block is ready to unveil its fiscal fourth-quarter earnings soon, and analysts project earnings in line with the year-ago quarter.

Barchart

Longtime Pittsburgh newspaper announces it’s ending operations after 240 years

The paper's DNA stretches back to the original Pittsburgh Gazette, founded in 1786

The Independent UK

Klarna partners with Coinbase to receive stablecoin funds from institutional investors

The buy-now-pay-later giant launched its own stablecoin in late November on a blockchain backed by Stripe and the VC firm Paradigm.

Fortune

A Visionary in Motion: How Sachin Malik Scales Businesses From Millions to Billions

The impact of Malik's work is unmistakable. Industry analysts point to his ability to bring both operational rigor and cultural insight to businesses expanding across continents.

International Business Times

Major AI rivals just co-founded a foundation for open source agent development — will the rest be on board with a playbook from OpenAI, Anthropic, and Block?

OpenAI, Anthropic, and Block recently co-founded a new open source organization called the Agentic AI Foundation designed to promote a clear path and standards for developing AI-powered agents.

Windows Central

Block, Inc. Stock: Is XYZ Underperforming the Technology Sector?

Block, Inc. has underperformed the technology sector over the past year. However, Wall Street analysts remain moderately bullish about its prospects.

Barchart

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Benzinga

3 Stocks to Profit from the $1 Trillion Holiday Shopping Bonanza

Wall Street doesn’t officially have any sectors named after the end-of-year holidays, but don’t let that fool you.

MarketBeat

Hims, Block, and NRG Just Launched Huge Stock Buybacks

Buyback capacity just got a big-time boost at Hims, Block, and NRG Energy. The three firms authorized more than $8 billion in buybacks combined.

Benzinga

Block Banks On Cash App, AI, Buybacks For Its Next Act

Block, Inc. (XYZ) shares are trading higher on Thursday.

Pedestrian.tv

The Block Contestants Have Regained Access To Their IGs & There’s Already Controversy

"People can read between the lines."

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Pedestrian.tv

Apparently The Tension Among The Block Cast Was ‘Impossible To Miss’ At A Recent Event

"After months of keeping the peace, they’ve clearly chosen their people."

Benzinga

JPMorgan Remains Overweight On Block (XYZ): What Investors Need To Know

Block Inc (NYSE:XYZ) shares are trading marginally lower Friday morning, continuing to digest last week’s third-quarter earnings miss. Despite the recent pullback, J.P. Morgan reiterated its Overweight rating on the stock, citing a significant “step-up in product velocity” following the company’s inaugural Cash App Release. Here’s what investors need to…

International Business Times UK

Jack Dorsey's diVine Bets on Anti-AI Content—Can It Rescue Original Creators?

Jack Dorsey is working to reboot the popular short-form video-sharing app Vine and ban AI-generated content to cater to those seeking original material and support creators.

The Independent UK

Cash App's MoneyBot might know your spending habits better than you do

Cash App has introduced MoneyBot, a new financial services chatbot that will be integrated into its banking app this winter

Fortune

New Cash App features let users send and receive stablecoins, pay merchants in Bitcoin

Dorsey, who also cofounded Twitter, has long been a Bitcoin devotee.

Benzinga

Gen Z, Millennials Emerge As Top Scam Targets: Block-Commissioned PYMNTS Report Finds

Younger, digital-first generations are now more likely to fall for scams than their parents or grandparents, according to a new report commissioned by Block Inc. (NYSE:XYZ) and conducted by PYMNTS Intelligence.

Kiplinger

Stocks Bounce But End With Big Weekly Losses: Stock Market Today

The stock market rout continued on Friday, but a late-day burst of buying power brought the main indexes off their session lows.

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