Jack Dorsey has announced that Block will reduce its workforce by nearly half, cutting the number of employees from over 10,000 to less than 6,000. This move will see more than 4,000 employees either leaving the company or entering negotiation processes. Dorsey emphasized that the company's financial health remains strong, with continued growth in gross profit. The decision is not due to operational difficulties but is driven by the belief that AI and smart tools are transforming organizational operations. Block aims to transition to a smaller, flatter, and more intelligence-focused structure, opting for a one-time adjustment rather than phased layoffs.