Block cuts half its workforce and the stock rises 24%

Claim

Block cut over 4,000 employees, roughly half its workforce, to move faster with smaller teams using AI, and the stock rose 24% after hours as the company targeted $2 million of gross profit per person.

Reported metric: -50% staff / +24% stock

Reporting date: 2026-02-27 (not necessarily the event date)

Sources

Attribution and reporting linked by this record; links do not imply independent verification.

• Welcome to February 27, 2026 (theinnermostloop.substack.com)