Although Blocks announced plans to cut its workforce from over 10,000 to below 6,000 employees, its stock price still rose over 5%, closing at $54.53. CEO Jack Dorsey stated that the layoffs aim to create a faster, more "intelligent" company that leverages AI tools to improve the efficiency of small teams. He highlighted the company's financial strength, with Q4 gross profit increasing 24% year-over-year to $2.87 billion, and predicted that most companies will undergo similar structural adjustments within a year.
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
Although Blocks announced plans to cut its workforce from over 10,000 to below 6,000 employees, its stock price still rose over 5%, closing at $54.53. CEO Jack Dorsey stated that the layoffs aim to create a faster, more "intelligent" company that leverages AI tools to improve the efficiency of small teams. He highlighted the company's financial strength, with Q4 gross profit increasing 24% year-over-year to $2.87 billion, and predicted that most companies will undergo similar structural adjustments within a year.