A running list of layoffs across corporate America so far in 2026:

• Snap Inc. $SNAP: ~1,000 jobs cut (16% of workforce) + 300 open roles eliminated

• The Walt Disney Company $DIS: ~1,000 layoffs, mainly in marketing

• Meta Platforms $META: Potentially 20%+ workforce cuts + Reality Labs layoffs

• Amazon $AMZN: 16,000 corporate jobs cut (after 14,000 in 2025)

• ASML Holding $ASML: ~1,700 layoffs

• Oracle Corporation $ORCL: Potential 20,000–30,000 cuts (12–18% of workforce)

• Block Inc. $XYZ: 40% workforce reduction (AI-driven)

• United Parcel Service $UPS: 30,000 jobs cut

• Pinterest $PINS: <15% workforce reduction + office closures

• Peloton Interactive $PTON: ~11% layoffs

• Citigroup $C: ~1,000 jobs cut

• Morgan Stanley $MS: ~3% workforce (~2,500 jobs)

• The Home Depot $HD: 800 jobs cut

• Atlassian $TEAM: ~10% workforce (~1,600 roles)

• Nike $NKE: 775 layoffs

• Target Corporation $TGT: 500 jobs cut

• Autodesk $ADSK: ~7% workforce (~1,000 jobs)

• Dow Inc. $DOW: 4,500 layoffs (13% of workforce)

• BlackRock $BLK: ~1% workforce (~250 jobs)

• Vimeo $VMEO: Large-scale layoffs

Jack Dorsey just fired half his company.

and the stock went up 23% after hours.

let that sink in.

@blocks - $XYZ, the parent of Square and Cash App, just cut 4,000+ people.

Nearly HALF the workforce. Gone.

here's Jack's statement and it doesn't fuck around:

"The intelligence tools we're creating, paired with smaller and flatter teams, are enabling a new way of working which fundamentally changes what it means to build and run a company."

He considered doing it gradually over months. Then chose to rip the bandaid:

"Repeated rounds of cuts are destructive to morale, to focus, and to the trust that customers place in our ability to lead."

This is NOT a distressed company. Block just posted $10B+ in gross profit in 2025. Up 17% YoY.

They're cutting from a position of STRENGTH.

the part everyone's going to miss:

The market rewarded this instantly. +23% after hours.

That's the signal.

We are entering an era where the most valuable thing a company can say is:

"We need fewer humans to do more work."

And Wall Street is going to keep rewarding that statement every single time.

Think about what this means at scale:

$AMZN: 16,000 cut in January — AI restructuring
$XYZ: 4,000 cut in February — AI restructuring

$IBM: stock down 27% because Claude replaces what their consultants do

$CRWD, $ZS: down 10%+ because Claude does security scans

This isn't a recession. There's no macro crisis.

This is a structural, permanent reallocation of labor happening in real time.

The companies that move fast and go "AI-native" are getting re-rated higher.

The ones that don't are getting IBM'd.

Jack Dorsey understood it. He chose the hard, clear action.

the future is smaller teams. bigger output. higher margins.

the market is telling you exactly where this ends up.

fucking wild time to be alive.

-BP

Note. Not financial advice.

$XYZ

Block cut 40% of their workforce today.

The stock, which has struggled for years, is up 20% after hours.

While one can argue that the company never needed 10,000 employees, there is probably something around increased productivity/efficiency due to AI that went into the thinking around the layoffs.

No one wants to see people lose jobs, but there are plenty of bloated companies that may realize shareholder return can happen with downsizing.

Where does that excess capital now go?

Probably to companies like $NVDA that will be supplying the compute which allows Block to cut 40% of their workforce.

No idea if this is the beginning of something really bad for the labor market (I am more optimistic on broader job growth with AI) but it absolutely means owning a stake in the companies doing the replacement is important.

Once again, the market is pricing that future growth for $NVDA at 18x after today’s fall. Feels cheap if the allocation of capital will shift to compute. M

I guess the other question is…what’s the next company to layoff this large a % of their workforce and lean more heavily into AI?

🚨 30+ Charts Dropped for Subs This Weekend! 🚨

Here are the tickers that were analyzed:
$ONDS $IREN $UAMY $MOS $CEG $NVO $EOSE $CIFR $TE $TTD $XYZ $IWM $NOW $ASTS $SMR $INMD $OKLO $UBER $BABA $QQQ $AMZN $TAC $NBIS $ZETA $PLTR $ROKU $SPOT $TSLA $COIN $SOFI $HOOD $MBLY $NAK $PANW $FSLY

Some nice A+ setups heading into this week as well...