Block cuts staff by roughly half as shares surge 24%
block has laid off nearly half its staff because of AI, and its CEO said most companies will do the same, a headline published 3 hours ago said — a development that coincided with market moves captured in separate headlines from CNBC and Axios.
Block shares jump 24% after announcement
CNBC ran a headline 5 hours ago that read "Block shares soar 24% as company slashes workforce by nearly half, " noting the 24% rise tied to the company's decision to cut staff by nearly half. The CNBC headline provides the market reaction and the size of the workforce reduction in one concrete line: 24% and nearly half.
Mass layoffs described as a 40% cut
Axios published a headline 2 hours ago headlined "Mass layoffs: Block slashes staff by 40%, adding to recent Amazon, eBay cuts, " putting a 40% figure on the job reductions and explicitly linking the move to recent cuts at Amazon and eBay. Axios's wording supplies both the 40% number and the peers named: Amazon and eBay.
CEO framed the move as driven by AI
's headline, published 3 hours ago, said the layoffs were "because of AI" and included the CEO's remark that "most companies will do the same, " tying the motive (AI) directly to the executive forecast. The headline therefore conveys cause (AI) and an executive claim about the wider industry.
Three headlines, three emphases: timing and figures
Across the three headlines (3 hours ago), CNBC (5 hours ago), and Axios (2 hours ago) — the coverage repeats the core events with slightly different emphases: cause and CEO comment (, 3 hours ago), market reaction and a 24% share move (CNBC, 5 hours ago), and a 40% staff figure with comparisons to Amazon and eBay (Axios, 2 hours ago). Each headline supplies a concrete anchor: times (5 hours ago, 3 hours ago, 2 hours ago), percentages (24% share move, 40% staff cut), or the nearly-half phrasing.
Next steps unclear in the provided context
No further operational details, timelines, or confirmed next events are included in the provided context; the next steps are unclear in the provided context. The three headlines together document the layoffs, the CEO's comment about AI and other firms, the market response, and the comparison to recent Amazon and eBay cuts, but they do not state any scheduled corporate announcements or follow-up milestones.
