One massive round of firings is apparently better for morale than a drip-drip-drip of death

Twitter co-founder Jack Dorsey’s financial services company Block has announced it will fire 40 percent of staff – around 4,000 people – because new "intelligence tools" the company is implementing “can do more and do it better.”

The company announced the sackings in the shareholder letter [PDF] accompanying its Q4 earnings announcement on Thursday. The payments and crypto company reported quarterly revenue of about $6.25 billion – up 3.6 percent year-over-year – and gross profit of around $2.9 billion. The company made $1 billion of gross profit in December 2025 alone. Full-year revenue came in at about $24.2 billion, and gross profit was around $10.36 billion.

I believe the majority of companies will reach the same conclusion and make similar changes

“2025 was a strong year for us,” Dorsey wrote in the shareholder letter, before posing the question, “Why are we changing how we operate going forward ...