Nearly Half of Employees Laid Off, Stock Price Surges 23%
[Plain Language Summary] On February 26, 2026, Block released a stellar Q4 financial report, causing its stock price to surge over 23% in after-hours trading, boosting its market capitalization by approximately $2.4 billion.
On the same day, however, it issued review notices to 4,000 employees, a staggering 40%. Jack Dorsey's open letter stated that AI tools allow fewer people to do more and better work. Internally, the "Goose" AI ecosystem has taken over 60% of customer service and a large number of engineering tasks, leaving 6,000 employees to transition into "curators."
Pakistani compensation cannot mask internal anxieties, yet Wall Street is wildly enthusiastic, with per capita profit approaching $2 million. This "adapting to circumstances" experiment signals that AI is replacing the human resource logic of enterprises, leading to a comprehensive transformation in white-collar employment security.
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