Block Stock Rises as Jack Dorsey's Bitcoin and Payments Firm Cuts 4,000 Jobs

Decrypt News Business Block Stock Pops as Jack Dorsey's Bitcoin, Payments Company Dumps 4,000 Jobs Block said the restructuring will cost up to $500 million and be largely completed by mid-2026, as investors embraced the move. By Sebastian Sinclair Feb 26, 2026 Feb 26, 2026 2 min read Jack Dorsey. Image: Shutterstock/Decrypt Create an account to save your articles. Add on Google Add Decrypt as your preferred source to see more of our stories on Google. In brief Block expects most restructuring charges to land in the first quarter, driven by severance and share-based compensation costs. The company employed just over 10,200 workers at the end of 2025, highlighting the scale of the workforce reduction. Block’s business spans consumer and merchant payments through Cash App and Square, alongside a growing Bitcoin operation tied to trading and payments. Jack Dorsey’s Block Inc said it will cut more than 4,000 jobs, over 40% of its workforce, as part of a broad restructuring unveiled alongside its fourth-quarter and full-year 2025 earnings.