Block Inc
ASX:XYZPayments and financial services platform. Afterpay, Square, Cash App.
Block Inc has been reviewed. Headcount data not yet available.
Financial Context
Market Cap
$48.5B
Revenue
$36.3B
The Story
- 2022Block (formerly Square) acquired Afterpay for US$29 billion, bringing hundreds of Australian employees into the company. Block's Australian workforce grew to over 1,200. [AFR]
- March 2026Block announced 4,000 job cuts globally, including approximately 700 in Australia. The company framed the restructure as an 'AI transformation.' Block's share price surged 20% on the announcement — the market rewarded headcount destruction. [AFR]
- March 2026Former Afterpay staff were disproportionately affected by the cuts. Workers described being told their roles were 'eliminated by AI' despite no AI system being deployed to replace them. The cuts came just weeks after Block reported record revenue. [SMH]
All facts sourced from public reporting. No editorial commentary. Click source links to verify.
Layoff Events
| Date | Headcount | Location | Department | Notes |
|---|---|---|---|---|
| 1 Mar 2026 | 700 | Australia | technology | Block cut 4,000 workers worldwide, including 700 Australians. |
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What Public Sources Say
All information below is sourced from publicly available documents and reporting. Excerpts are direct quotes. Click source links to verify.
“Block cut 4,000 workers worldwide, including 700 Australians.”
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