Nearly half the staff laid off, and the stock price soared. Crypto finance company Block, founded by Twitter's Jack Dorsey, announced plans to lay off nearly half its workforce, cutting down from over 10,000 employees to fewer than 6,000. This means more than 4,000 employees will be leaving. Jack explained that the layoffs aren't due to financial pressure. The reason behind this move is the rise of artificial intelligence (AI) tools, which are transforming how businesses operate, making such a large workforce unnecessary. He faced two options: gradually lay off employees as the industry evolves, or make all adjustments at once. He ultimately chose the latter, reasoning that multiple rounds of layoffs would hurt morale and external trust. Through a one-time restructuring, the company plans to operate with a smaller, more focused structure, placing AI at the core of its business. As for the laid-off employees, they will receive at least 20 weeks of severance pay, equivalent to about 5 months' salary. After this announcement, Block's stock price surged over 21% in after-hours trading. The market strongly approved and supported this decision.