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[Block Lays Off 40% Of Workforce, Citing AI Efficiencies; Shares Surge] Block, The Company Behind Square, Cash App, And Afterpay, Is Reducing Its Staff By 40%, Laying Off Over 4,000 Employees And Bringing Its Total Workforce To Just Under 6,000. Co-founder Jack Dorsey Stated That This Decision Is Driven By The Capabilities Of Intelligence Tools, Which Enable Smaller Teams To Achieve More Efficiently. The Company's Financial Guidance Indicates An Opportunity To Move Faster With Highly Talented Teams Leveraging AI For Automation. Block's Shares Increased By Up To 24% Following The Announcement.

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