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Block's stock surges over 22% before market open, announces nearly half layoffs and raises annual gross profit guidance
12 hour ago /
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Author：小编
Shares of fintech company Block (XYZ.US) surged 22.6% before market open to $66.84. The company announced it will lay off nearly half of its workforce, around 4,000 employees, aiming to enhance efficiency and restructure its organization through artificial intelligence. CEO Jack Dorsey anticipates that most companies will take similar measures in the coming year. Additionally, the company's management raised its full-year 2026 performance expectations, projecting gross profit to reach $12.2 billion, an 18% year-over-year increase.
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