The End of the Career Ladder: How AI Is Dismantling White-Collar Work in 2026

On February 26, 2026, Block, the fintech company behind Square, Cash App, and Afterpay, announced it was cutting 40% of its workforce: more than 4,000 people, reducing headcount from 10,000 to just under 6,000. The company posted $2.87 billion in gross profit in its most recent quarter, up 24% year-over-year. It was not in trouble. That was precisely the point.