More than 40% of workforce cut; Bloomberg put it at about 4,000 jobs
Source-backed update · Announced reduction · Block
EventAnnounced February 26, 2026
ReportedFebruary 26, 2026
Added to WorkHushFebruary 26, 2026
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Sources
SEC Form 8-K · Feb 26, 2026Supports: Block announced a workforce plan to cut its workforce by more than 40%, with estimated charges of about $450 million to $500 million, to be substantially complete by the end of the second quarter of 2026.Open the sourceBlock shareholder letter (SEC Exhibit 99.1) · Feb 26, 2026Supports: The company said it was reducing its workforce by over 40% to move faster with smaller teams using AI to automate more work.Open the sourceBloomberg · Feb 27, 2026Supports: Reported that the cut amounts to 4,000 employees, nearly half the workforce.Open the source
Not in the sources
Block's filing gives only a percentage; the figure of about 4,000 jobs comes from Bloomberg, and teams and locations affected are not specified.
More job cuts in February 2026 ›