Jack Dorsey slashes 40% of Block staff despite rising profits

Block just laid off 40% of its workforce, over 4,000 people, despite beating earnings expectations and seeing gross profit jump 24%, explicitly stating "intelligence tools" make them "significantly more valuable" as a smaller company. Investors then rewarded this mass layoff with a 22% stock surge. Does this prove that profitability and AI-driven efficiency now inherently demand job cuts, regardless of current performance?
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