[Betting on AI to Improve Company Efficiency: Block Plans to Lay Off Nearly Half of Its Workforce] Jin10 Data, February 27 – U.S. fintech company Block is cutting 4,000 employees, representing nearly half of its workforce. The company is placing its bets on artificial intelligence to transform future labor productivity. Following the layoff announcement, Block's stock price surged 22% in after-hours trading. Since 2024, Block has been restructuring its business model and workforce due to lagging stock performance. At the same time, the company has invested heavily in developing AI tools to enhance operational efficiency, including creating its proprietary tool named Goose. In a letter, company founder Jack Dorsey wrote: "Smart tools have redefined the way companies are created and operated. We've already seen this transformation within our company. A significantly smaller team, equipped with the tools we've developed, can accomplish more and do it better.