>If the profits are still up and growing, why on earth would you evict 40% of the company, to send them into this job market?

To avoid laying them off in next year's job market.

Dripping a 10% cut every year for the next four years when you *know* that you're going to do it is cowardice.

Nobody can know they will need to lay off 10% multiple years from now. So many things can change between now and then.

For all Block knows, AI for coding kind of plateaus where it is now and there is a huge boom in software engineer hiring taking advantage of the new tech to produce even more/better features.

Or empathetic, especially when they throw money away à la $70M parties:

“General and administrative expenses increased by $68.1m ... The increase was primarily driven by … an in-person company event held in Q3 2025”