Block Inc. (NYSE: XYZ) stock surged approximately 18% in pre-market trading after the company announced a major corporate restructuring plan, including layoffs of about 40%, reducing its workforce to below 6,000 employees to transition to an AI-driven operational model. The fintech giant also issued an earnings outlook that exceeded expectations, projecting gross profit of $2.8 billion in Q1 2026 and full-year adjusted operating income of $3.2 billion, well above analyst estimates.