Block spent $68.1 million on a lavish September 2025 event just five months before laying off 40% of its workforce, citing AI-driven efficiency as the reason. The layoffs were framed by Jack Dorsey as necessary for a future-focused, AI-augmented operation model, leading to a sharp 20–23% surge in Block's stock. The costly party and mass layoffs sparked widespread criticism over management priorities and the use of AI as a justification for job cuts.
