Jack Dorsey’s fin-tech giant Block is laying off 4,000 workers as it leans on AI to streamline operations, but what exactly does this company do? Let’s find out here.

Block Inc (NYSE: XYZ) rallied nearly 20% this morning after the fintech giant behind Square and Cash App announced mass layoffs – affecting roughly 4,000 of its employees. According to Jack Dorsey, the firm’s chief executive, this will lower Block’s overall headcount by about 40%.

OAKLAND — Block, formerly known as Square, has decided to chop 240 jobs at its office hub in Oakland’s Uptown district, according to a WARN letter the tech company sent to the state Employment Development Department. It’s possible that not all ...