Block to cut more than 40% of workforce, with $450 million to $500 million in charges
Block said it will reduce its workforce by more than 40%, with estimated charges of $450 million to $500 million, mostly in the first quarter of 2026 and substantially complete by the end of the second quarter. The same day, it reported fourth-quarter 2025 gross profit up 24% to $2.87 billion and raised its 2026 gross profit guidance, but GAAP diluted EPS was $0.19 after a $234 million bitcoin remeasurement loss.
Key points
- Workforce to fall by more than 40%; the letter says Block will go from over 10,000 people to just under 6,000, with over 4,000 people asked to leave or entering consultation.
- Estimated restructuring charges of $450 million to $500 million, mainly cash costs for notice periods, severance and benefits, plus non-cash share-based award expenses.
- Q4 2025 gross profit rose 24% year over year to $2.87 billion; GAAP diluted EPS was $0.19 versus $3.05 a year earlier, and Adjusted Diluted EPS was $0.65.
- 2026 guidance raised to $12.20 billion gross profit (18% growth) and $3.20 billion Adjusted Operating Income.
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 1:42 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on February 26, 2026.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.