Jack Dorsey's Block to cut nearly half its workforce in AI overhaul, shares surge [Yahoo! Finance]
Evercore Inc. Class A (EVR)
Last evercore inc. class a earnings: 4/22 06:00 am
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Source: Yahoo! Finance
By Manya Saini and Arasu Kannagi Basil Feb 26 (Reuters) - Block on Thursday said it will cut over 4,000 jobs, nearly half its workforce, as part of an overhaul to embed artificial intelligence across its ?operations, sending shares of the payments firm up 25% in after-hours trading. The layoffs signal how the AI boom ?is translating from hype into workforce changes, fueling long-held concerns among workers and economists that the technology could eliminate roles even as it boosts productivity ?and profits. "Intelligence tools have changed what it means to build and run a company. We're already seeing it internally. A significantly smaller team using the tools can do more and do it better," CEO Jack Dorsey said in a statement. "I don't think we're early to this realization. I think most companies are late," he added. AI-DRIVEN OVERHAUL In a post on social media platform X, Dorsey said ?Block opted for a single deep round ?of cuts instead of multiple smaller layoffs over ti
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EVR
Earnings
- 2/4/26 - Beat
EVR
Sec Filings
- 2/23/26 - Form 4
- 2/23/26 - Form 4
- 2/23/26 - Form 4
- EVR's page on the SEC website