Block Shares Surge 20% Amid Massive Layoffs

Block Inc. sees a 20% stock increase after announcing layoffs impacting nearly half of its workforce.

Block, the parent company of Square and the Cash App, said today that it’s laying off more than 4,000 employees, or about half of its headcount.

The stock skyrocketed more than 20% in extended trading.

Jack Dorsey, Block’s CEO, previously co-founded and ran Twitter, now known as X.

CBN hopes Jack didnt fire his barber😜