Block, the company behind Square, Cash App and Afterpay, is cutting its staff by 40%. The reason: “intelligence tools,” according to a letter to shareholders by co-founder Jack Dorsey.

Block reports strong earnings, cuts workforce, and shifts to AI model as analysts say Square stands to benefit most.

Block’s stock surges 20% as Wall Street rewards massive job cuts at the parent company of Square and the Cash App.

About 4,000 workers will lose their jobs as the payments company does more work with new artificial intelligence tools, its ...

Block, the parent company of payment apps Square, Cash App and Afterpay, is laying off more than 40 percent of its staff, pointing to recent advancements in artificial intelligence that are “enabling ...

The fintech company behind Square and Cash App is slashing more than 4,000 jobs as AI has made that many people redundant.

Block is the latest business to announce layoffs, with the operator of payment platforms Square and Cash App opting to cut jobs in favor of using more AI tools. The financial tech company, helmed by ...

Block beat views on growth in its consumer lending unit as writeoffs soared. With 40% of workers out, can AI replace them? If others follow, it could be AIpocalypse now.