“Block shares soar as much as 24% as company slashes workforce by nearly half”
April 7, 2026
“Block said Thursday it’s laying off more than 4,000 employees, or about half of its head count.
Shares of the payment company skyrocketed as much as 24% in extended trading. It was last seen up nearly 18% in Friday’s premarket.
Block’s CFO said the job cuts would enable it “to move faster with smaller, highly talented teams using AI to automate more work.”…”