Afterpay Owner Block to Axe 4,000 Jobs Amidst AI Changes
The Australian
ENRICHED
Details
- Date Published
- 26 Feb 2026
- Priority Score
- 2
- Australian
- Yes
- Created
- 27 Feb 2026, 07:15 am
Authors (0)
No authors linked
Description
AI has “changed what it means to build and run a company”, says Block boss Jack Dorsey as it cuts 40 per cent of staff days after WiseTech’s move also to sack thousands.
Summary
The article reports on significant job cuts announced by Block, the parent company of Afterpay, citing AI's transformative impact on business operations as the primary reason. This decision, taken shortly after WiseTech's similar move, reflects a broader trend of workforce reduction driven by AI advancements. Although this instance chiefly highlights the economic and employment shifts due to AI rather than existential risks, it underscores the profound influence AI is having on traditional business structures and management. The situation tangentially touches on policy conversations about AI in the workplace but does not delve deeply into catastrophic risk or governance issues related to AI safety.
Body
4000 job cuts: Afterpay owner Block next to wield the AI axeAI has “changed what it means to build and run a company”, says Block boss Jack Dorsey as it cuts 40 per cent of staff days after WiseTech’s move also to sack thousands.
All your news for a great price
Unlock this story and more with your subscription
Digital
What’s included
Unlimited access on app & web
A digital version of Today’s paper
Daily puzzles & Mind Games
Complimentary access to The Wall Street Journal
Subscriber-exclusive newsletters & early access to tomorrow’s front pages
Pay As You Go
No lock-in contract
$1
a week for 4 weeks($4 min. cost). Then $44 charged every 4 weeks.*
*Read the fine print
The Australian Digital subscription costs $4 charged for a duration of 4 weeks, after which it automatically renews to $44 charged every 4 weeks. Renewals occur unless cancelled as per full Terms and Conditions. Each payment, once made, is non-refundable, subject to law. Not in conjunction with any other offer. New customers only. Prices after any early discounted periods may be varied as per full Terms and Conditions. See www.theaustralian.com.au/subscriptionterms for full details.
12 Month Plan
Lock in & save
$8
a week for the first 12 months($416 min. cost) charged as $32 every 4 weeks. Then $32 charged every 4 weeks.*
*Read the fine print
The Australian Digital 12 Month Plan costs $416 (min. cost) for the first 12 months, charged as $32 every 4 weeks. This automatically renews after the first 12 months to be charged as $32 (min. cost) every 4 weeks. Renewals occur unless cancelled as per full Terms and Conditions. No cancellations during the first 12 months. Each payment, once made, is non-refundable, subject to law. Not in conjunction with any other offer. Prices after the first 12 months may be varied as per full Terms and Conditions. See www.theaustralian.com.au/subscriptionterms for full details.
Benefits of Full Digital Access Unlimited access Expert news and commentary, accessible anytime on web & app. Today’s paper Swipe through the digital newspaper, liftouts, and archive. Newsletters Be in the know with subscriber-exclusive news emails. The Wall Street Journal Enjoy complimentary access to The Wall Street Journal. Mind Games Play daily crosswords, sudoku and more with Mind Games. Unlimited access Expert news and commentary, accessible anytime on web & app. Today’s paper Swipe through the digital newspaper, liftouts, and archive. Newsletters Be in the know with subscriber-exclusive news emails. The Wall Street Journal Enjoy complimentary access to The Wall Street Journal. Mind Games Play daily crosswords, sudoku and more with Mind Games.
Subscribe
Other subscription options
Corporate Subscriptions
The voices you trust to tell the stories that matter
Meet some of the fearless, curious, world-class journalists of The Australian. They cut through spin, verify facts and tell the full story from many viewpoints – bringing clarity when it counts and insight you can rely on, every day.
Vesna Poljak Business Editor Vesna Poljak has over two decades of experience in Australian business journalism, specializing in the investment industry, hedge funds and accounting. She has covered financial services, transport and infrastructure, magazine writing, commentary, podcasts, and events.
Hedley Thomas National Chief Correspondent Hedley Thomas, an award-winning investigative journalist, focuses on legal issues, corruption, and politics. He's won eight Walkleys and is famed for his true crime podcasts "The Teacher’s Pet" and "Bronwyn".
Claire Harvey Editorial Director Claire Harvey is Editorial Director of The Australian and hosts the daily news podcast The Front. She has been a foreign correspondent, deputy editor, columnist and reporter for over 30 years. Claire is a leading innovator in digital storytelling.
Caroline Overington Literary Editor Caroline Overington, a celebrated Australian writer and journalist, is a two-time Walkley winner. She's authored 16 books, hosted true crime documentaries, and topped Audible charts with her thrillers. As literary editor for The Weekend Australian Review, she now champions fellow writers.
Simon Benson Political Editor Simon Benson, an award-winning journalist, has been The Australian's Political Editor and National Affairs Editor. He was also the Daily Telegraph’s NSW political editor and led the NSW Press Gallery.
Your Selection: $0
Your Selection
–
Change selection
Today’s Total
$0
Read the fine print
Terms and Conditions
Sorry, we are unable to process your request at this time. Please try again later.