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Feb 26, 2026 4:50 PM

Block Plans To Replace Nearly Half Its Workforce with AI — Stock Rallies

Block Inc. (NYSE:XYZ) shares rallied in Thursday's extended trading after the company released its fourth-quarter earnings report and announcing massive headcount reductions.

Here's a look at the details from the report   

XYZ stock is moving. Watch the price action here.

The Details: Block reported quarterly earnings of 65 cents per share, in line with the Street estimate, according to data from Benzinga Pro.

Quarterly revenue came in at $6.25 billion which missed the consensus estimate of $6.28 billion.

Block also announced massive 40%+ headcount reductions.

“Today we shared a difficult decision with our team. We’re reducing Block by nearly half,