<div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>The parent company of Afterpay and Square has announced it has culled 4000 </span><a href="https://www.9news.com.au/jobs" rel="" target="_blank" title="jobs"><span>jobs</span></a><span> from its workforce around the </span><a href="https://www.9news.com.au/world" rel="" target="_blank" title="world"><span>world</span></a><span>, potentially impacting hundreds of </span><a href="https://www.9news.com.au/australia" rel="" target="_blank" title="Australians"><span>Australia</span></a></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Block, a </span><a href="https://www.9news.com.au/usa" rel="" target="_blank" title="US"><span>US</span></a><span>-based company that also runs platforms such as Square and Cash App, made the announcement via their co-founder Jack Dorsey this morning, who claimed the changing role of </span><a href="https://www.9news.com.au/artificial-intelligence" rel="" target="_blank" title="AI"><span>AI</span></a><span> in the industry and not </span><a href="https://www.9news.com.au/finance" rel="" target="_blank" title="financial"><span>financial</span></a><span> struggles were the key motivator.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"We're not making this decision because we're in trouble," he said in a letter to staff, which was also shared on </span><a href="https://www.9news.com.au/twitter" rel="" target="_blank" title="X"><span>X</span></a><span>.</span></div></div><div><div id="adspot-mobile-medium"></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><strong><span>FINANCE:</span></strong><span> </span><a href="https://www.9news.com.au/national/negative-gearing-treasury-modelling-jim-chalmers-federal-budget/38dc9045-0406-4198-b3db-7b5a67706ebb" rel="" target="_blank" title=""><strong><span>Popular but controversial tax break could be pared back within months</span></strong></a><strong><span></span></strong></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><strong><em><span>Have you been impacted by the job cuts at Block? Get in touch with our reporter Patrick Brischetto at </span></em></strong><a href="mailto:patrick.brischetto@nine.com.au" rel="" target="_blank" title="patrick.brischetto@nine.com.au"><strong><em><span>patrick.brischetto@nine.com.au</span></em></strong></a><strong><em><span>.</span></em></strong><span></span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"But something has changed. we're already seeing that the intelligence tools we're creating and using, paired with smaller and flatter teams, are enabling a new way of working which fundamentally changes what it means to build and run a company."</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Dorsey claimed he had two options, either to do the cuts gradually, or to do it all at once.</span></div></div><div><div class="OUTBRAIN" data-reactroot="" data-src="//www.9news.com.au/national/block-square-afterpay-cash-app-job-cuts-jack-dorsey/a7216538-7d78-4c61-831d-6d023116213f" data-widget-id="AR_5"></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"Repeated rounds of cuts are destructive to morale, to focus, and to the trust that customers and shareholders place in our ability to lead. i'd [sic] rather take a hard, clear action now and build from a position we believe in than manage a slow reduction of people toward the same outcome."</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><strong><span>READ MORE:</span></strong><span> </span><a href="https://www.9news.com.au/national/kmart-kids-toy-anko-wobbly-blocks-product-recall/6d719c32-d518-4484-b056-b2d72610b920"><strong><span>Popular toy pulled from Kmart shelves over safety concerns</span></strong></a><strong><span></span></strong></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>The company globally had 10,000 employees, but this number will now shrink to less than 6000, Dorsey said.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Block has just over 1000 employees based in Australia, according to LinkedIn, but it is unclear how many Australian-based workers will be impacted by the cuts.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>When asked by </span><a href="http://nine.com.au"><span>Nine.com.au</span></a><span> how many Australians would be affected, a company spokesperson said it declined to break the news down by region and provided several statistics from the company's latest financial results.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Block also declined to say how many jobs would be culled, if any, from Afterpay.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Afterpay was founded in Sydney in 2014 and has its main Australian office in Melbourne CBD.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><strong><span>READ MORE:</span></strong><span> </span><a href="https://www.9news.com.au/national/air-india-flight-redirected-sydney-to-canberra/716836fb-8736-4b50-a170-7f6b42c9b2c8" rel="" target="_blank" title=""><strong><span>Chaos for passengers after international flight diverted from Sydney to Canberra</span></strong></a><strong><span></span></strong></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Square was also contacted for comment on the extent of its job losses.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Their main office is also in Melbourne CBD and they opened a Sydney office in Chippendale in 2024.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>The company is known for manufacturing tap and go payment terminals, which many smaller businesses use to process card payments, allowing them to accept payment by phone as well.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Block made a $10.36 billion gross profit in 2025, a 17 per cent growth year on year, according to its presentation to investors.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>More than $6 billion of this came from Cash App, with Square contributing to nearly $4 billion.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Block's job cull comes the same week Australian-based software company WiseTech </span><a href="https://www.9news.com.au/national/wisetech-to-cut-up-to-2000-jobs-ai-restructure/e1626bc8-91d7-43db-8390-13ea2e0a6eb5" rel="" target="" title="announced"><span>announced</span></a><span> cuts of around 2000 people over the next two years.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><ul><li><em><strong><span>NEVER MISS A STORY: Get your breaking news and exclusive stories first by following us across all platforms.</span></strong></em></li><li><em><strong><span>Download the 9NEWS App here via</span></strong></em><span> </span><a href="https://apps.apple.com/au/app/9news/id1010533727" rel="" target="" title=""><em><strong><span>Apple</span></strong></em></a><span> </span><em><strong><span>and</span></strong></em><span> </span><a href="https://play.google.com/store/apps/details?id=nineNewsAlerts.nine.com&amp;hl=en_AU&amp;pli=1" rel="" target="" title=""><em><strong><span>Google 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