TechFlow News, February 27: According to a Cointelegraph report, Block—a financial services and digital payments company co-founded by Twitter co-founder Jack Dorsey—will lay off over 4,000 employees, representing nearly half its workforce. Dorsey stated this move is linked to the rapid advancement of AI. In an open letter, Dorsey noted that the creation and adoption of AI tools, combined with smaller, flatter team structures, are enabling a new way of working—one that fundamentally reshapes what it means to build and operate a company—and this trend is accelerating rapidly. He opted for immediate action rather than phased layoffs, believing multiple rounds of reductions would erode morale, focus, and trust from customers and shareholders alike. Affected employees will receive 20 weeks of salary, plus one additional week of salary for each year of service, six months of health insurance coverage, company-issued equipment, and a $5,000 transition stipend.
