The San Francisco-based fintech group Block Inc, led by Jack Dorsey, is bracing for a significant round of layoffs that could see as much as 10 per cent of its global workforce trimmed, according to a report from Bloomberg.
If confirmed, this would mark Block’s third wave of job reductions in just two years, signalling continued financial caution across the technology and fintech landscape. The company has so far declined to comment on the report.
The cuts are expected to affect several divisions and are likely to align with ongoing year-end performance reviews running through February.
The report said that hundreds of employees have already been informed their roles could be affected as Block conducts its annual performance evaluations. The move forms part of a wider efficiency push designed to streamline the company’s structure and cut costs amid a challenging operating environment.
As of the end of November, Block employed roughly 11,000 people worldwide, meaning the planned cuts could affect over a thousand roles. The company has not yet issued an official statement on the matter and, according to Bloomberg, declined to comment outside regular business hours.
This fresh round of layoffs follows 931 job losses in March 2025 and 1,000 cuts in January 2024, as the company continues to tighten operations and respond to slower growth.
Since 2024, Block has been in the middle of a major restructuring drive, aiming to bring Cash App and Square closer together to streamline operations and cut overlapping costs. The move is designed to create a more connected ecosystem between consumers and merchants, something investors see as key to boosting profitability.
In the process, Block has wound down several side ventures, including its decentralised tech division TBD and parts of its Tidal music streaming business. These pullbacks mark a clear shift away from experimental initiatives toward core revenue streams.
Despite the belt-tightening, Dorsey’s firm continues to invest in next-generation technologies, especially bitcoin and artificial intelligence. Among its newer projects is Goose, an AI-powered productivity tool built internally to enhance workflow across the company. The shift reflects Dorsey’s long-term goal of embedding AI deeper into Block’s products and internal systems.
Block’s restructuring isn’t happening in isolation. The latest news lands amid a broader wave of layoffs across the tech world, where companies are grappling with rising costs, cautious investors, and a growing reliance on AI automation.
In January 2026, Bloomberg reported that Amazon had also begun cutting thousands of white-collar jobs across multiple divisions, including AWS, Prime Video, retail, and human resources, as part of a plan to trim around 30,000 roles.
While some reports linked the cuts to increasing AI integration, Amazon CEO Andy Jassy clarified during an earnings call that the move was not financially or AI-driven. Instead, he cited the company’s evolving structure, “You end up with a lot more people than what you had before, and you end up with a lot more layers.”
Even so, Jassy has acknowledged that AI efficiencies are gradually reducing the need for certain corporate roles, a reality that mirrors the transformation across much of the tech sector.
As companies like Block and Amazon recalibrate for an AI-first future, the question looming over Silicon Valley is whether automation will unlock growth, or keep claiming jobs along the way.
