Block opened a new strategic European hub in Dublin late last month.
Block is cutting 4,000 jobs – or around 40pc of its global workforce – as, according to company co-founder and chair Jack Dorsey, AI tools and flatter teams are proving more productive.
In a lengthy post on X, Dorsey stated that he made the decision to cut jobs after realising how small teams and intelligence tools have enabled a “new way of working” that “fundamentally changes” things.
He maintained that the job cuts were not a cost saving measure. “Our business is strong. Gross profit continues to grow…and profitability is improving”, he added.
He also doubled down on his decision in a letter to the shareholders, stating that a “majority” of companies will reach similar conclusions around smaller teams and make similar structural changes within the next year.
As pointed out by major publications, Block has conducted several rounds of layoffs in recent years, but it has never cited AI as a reason for the redundancies before.
The company previously laid off Irish employees in 2024 as part of its then plans to cut around 1,000 people across the company globally.
The layoffs come after the global fintech giant opened a new Dublin office late last month where it plans to situate 300 of its workers. SiliconRepublic.com has asked Block what impact the layoffs would have on its Irish employees.
Block shares rose by more than 24pc following the announcement, which came alongside a pleasant Q4 report boasting a 24pc year-over-year growth in gross profit, marked by a 51pc growth in financial solutions and a 10pc growth in bitcoin ecosystem.
As of 2025, Block had 10,205 full-time employees globally, with 2,472 of them working from outside the US. According to Block’s US government filings, the layoffs will be completed by the end of Q2 and will cost the company anywhere between $450m and $500m.
Block, formerly known as Square until 2021, is the operator behind popular fintech services, including the consumer-focused Cash App and seller-focused Square.
Just last month, Amazon announced that it is cutting 16,000 roles across its departments internationally to, according to the company, reduce organisational layers and remove bureaucracy.
The company employs more than 6,000 across various sites in Dublin, Cork and Drogheda. RTÉ reported that around 300 Ireland-based jobs would be at risk.
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Jack Dorsey, 2018. Image: © Mark Warner via Flickr (CC BY 2.0)
