By John Herrman
Publication Date: 2026-04-25 10:00:00
Photo: Intelligencer; Photo: Getty Images
Everyone in the tech industry is afraid of layoffs. Since the start of the year, Block (formerly Square) has cut its workforce nearly in half, Oracle began laying off up to 30,000 employees, Amazon announced further staff cuts, Snap laid off around 15 percent of its workforce, and Pinterest announced plans to do much the same. Microsoft recently announced its first voluntary buyouts aimed at long-time employees, interpreted by some as a prelude to deep cuts.
Most companies are reducing their workforce, which has grown enormously in times of low interest rates. But at least everyone has it something have to do with AI. Some companies like Oracle and Microsoft are investing their capital in massive investments in technology. Block’s leadership says it is confident it can now lead its company by a wide margin…
