LONDON--(BUSINESS WIRE)--Paysafe, a leading payments platform, today announced the appointment of four new nonexecutive directors to its Board. ...

Core Insights - Jack Dorsey, CEO of Block, announced significant layoffs, with nearly half of the workforce (4,000 out of 10,000) being let go to streamline operations and enhance growth potential [3] - Dorsey anticipates that other companies will follow suit in workforce restructuring as they adopt more efficient intelligence tools, suggesting a broader trend across industries [4] - The potential impact of these layoffs could lead to widespread job reductions globally, as companies may replicate Block's approach to workforce management [5] Company Summary - Block, valued at $33 billion, is undergoing a major workforce reduction to adapt to a changing business environment and leverage AI for operational efficiency [3] - The CFO of Block emphasized that the job cuts are aimed at positioning the company for long-term growth and faster operations with smaller, skilled teams [3] Industry Implications - Dorsey's comments indicate a shift in the tech industry towards automation and efficiency, which may prompt similar actions from other firms, leading to significant workforce changes across various sectors [4] - The expectation of job losses due to AI and automation raises concerns about the future job market, with ongoing debates about the creation of new roles to replace those being eliminated [6]

This story was originally published on Payments Dive. To receive daily news and insights, subscribe to our free daily Payments Dive newsletter. Dive Brief: PayPal Holdings is partnering with Rainforest, the Atlanta-based embedded payment company, to provide its payment services to Rainforest’s software platform users, PayPal said in a Wednesday press release. As part of the partnership, Rainforest’s clients can allow merchants to receive payments via PayPal, Venmo and PayPal’s buy now, pay later service ...

This story was originally published on Payments Dive. To receive daily news and insights, subscribe to our free daily Payments Dive newsletter. Dive Brief: Card issuer Marqeta is forecasting choppier financial results later this year as its largest customer, Block, reaps lower pricing from its Cash App debit card program and moves some new business to an alternate provider. Players in the payments field, like Block, often have multiple providers but concentrate the majority of their business with one of ...

The S&P/ASX 200 closed up on Friday (February 27, 2026), gaining 23.30 points, or 0.25%, to 9,198.60, as According to the ASX website, the top-performing stocks in this index were BLOCK, INC. and LYNAS RARE EARTHS LIMITED, up 27.83% and 10.09%, respectively. Over the last five days, the index has gained 1.29% and is currently 0.05% off of its 52-week high.The broader index rose ⁠0.3%, taking its February gain to 3.5%. The benchmark hit three record highs during the month, most recently touching 9,202.90.S& ...

Global Payments Inc. (NYSE:GPN) is included among the 14 Best GARP Stocks to Buy According to Analysts. Cantor Fitzgerald Raises Global Payments (GPN) Price Target, Says Q4 Cleared Key Overhang On February 23, Cantor Fitzgerald analyst Ramsey El-Assal raised the price recommendation on Global Payments Inc. (NYSE:GPN) to $88 from $80. The analyst reiterated a Neutral rating on the stock. He told investors that the company’s Q4 results acted as a clearing event. He noted that FY26 guidance points to 5% adj ...

Apple is reportedly holding discussions with Indian banks and international card networks to launch its payment service in the country. ICICI Bank, HDFC Bank and Axis Bank are among the lenders involved in the talks, Bloomberg reported, citing people familiar with the matter. According to the report, the iPhone maker is targeting the launch of Apple Pay around the middle of 2026. The schedule may change, but the talks indicate preparations are underway. Apple is also in conversations with Mastercard an ...

Core Viewpoint - Block announced a significant workforce reduction, cutting over 4,000 employees, which is approximately half of its total workforce, in a move aimed at restructuring for long-term growth [1][2]. Group 1: Workforce Reduction - The company will reduce its employee count from over 10,000 to less than 6,000, resulting in more than 4,000 employees leaving or entering negotiation processes [1]. - This decision aligns with Block's fourth-quarter earnings report, which showed an adjusted earnings per share of $0.65 and revenue of $6.25 billion, meeting analyst expectations [1]. Group 2: Financial Implications - Block anticipates restructuring costs of approximately $450 million to $500 million due to the layoffs, primarily related to severance, employee benefits, and non-cash expenses associated with equity vesting [1]. - The company expects most of these restructuring costs to be incurred in the first quarter [1]. Group 3: Future Outlook - For the upcoming year, Block projects an adjusted earnings per share of $3.66, exceeding analyst expectations of $3.22 [1]. - The CFO stated that the layoffs are intended to establish a solid foundation for the company's next phase of long-term growth [1][2]. Group 4: Industry Context - Other companies, such as Pinterest, CrowdStrike, and Chegg, have also announced layoffs, attributing these changes to the restructuring of workforce dynamics due to AI [2]. - The CEO expressed a belief that many companies will undergo similar structural adjustments in the coming year as they seek greater efficiency through streamlined teams and automation [2].

智通财经APP获悉，Block(XYZ.US)周四宣布，将裁员超4000人，规模约为员工总数的一半。受此消息 影响，该股在盘后交易中一度大涨超27%。 Block首席财务官Amrita Ahuja表示，此次裁员将为公司"下一阶段的长期增长"奠定坚实基础。 Ahuja称："我们选择在公司业务加速发展之际调整运营模式。我们意识到，通过组建更精简、高素质的 团队，并利用AI实现更多工作自动化，我们能够以更快的速度前进。" Dorsey预计，随着企业从"智能工具"中获得更高效率，其他公司也将对人员结构进行类似调整。 "未来一年内，我相信绝大多数企业都会得出相同结论，并做出类似的结构性调整，"Dorsey表示，"我 更愿意主动、坦诚地完成转型，而非被动应对。" Block联合创始人兼首席执行官Jack Dorsey在致股东信中表示："今天我们向团队宣布了一项艰难的决 定。公司规模将缩减近一半，员工总数从超1万人精简至不足6000人，这意味着超过4000名员工将离职 或进入协商流程。" 此次裁员消息与Block第四季度财报同步发布。财报数据显示，这家支付公司本季度调整后每股收益为 65美分，营收达62.5亿美元，这与分析 ...

Jack Dorsey has long been an open admirer of Elon Musk. Now, it seems, he may have been taking notes. On Thursday, Dorsey announced that Block, the payments company he founded that operates Square, Cash App, and Tidal, is cutting more than 4,000 employees, nearly half its global workforce, taking it from over 10,000 workers down to just under 6,000. Investors responded enthusiastically, sending the stock up more than 24% in after-hours trading. It isn’t the first time a major tech company has done som ...