Jack Dorsey's Block, a fintech company that owns Square and Cash App, is laying off nearly half of its workforce. Dorsey announced the layoffs on X, citing AI as the main reason behind the move.

Block is joining the S&P 500, replacing Hess as of July 23. Hess is exiting the index upon its acquisition by Chevron. In May, Block reported disappointing quarterly results and issued a weak forecast ...

Jack Dorsey this week made good on his promise to conduct layoffs at Block. The cofounder and CEO who previously ran Twitter told Block staff on Tuesday that the financial-tech company was letting go ...