Block ($XYZ) just laid off 4,000 people while sitting on $8 BILLION in cash. Here's what the SEC filings actually show.

Block Inc. just cut 4,000 jobs. Meanwhile, here's what we pulled from their latest SEC filings: **The Money:** - **$8.1 billion** in cash and equivalents - **$2.9 billion** in net income (12% profit margin) - **$24.1 billion** in total revenue - Total debt? Just **$1 billion**. They could pay it off 8x over with cash alone. **Where the money went instead of keeping employees:** - **$1.17 billion** on stock buybacks (buying their own stock to pump the price) - **$1.27 billion** in stock-based compensation (executive pay in stock options) - That's **$2.4 billion** going to shareholders and executives while 4,000 people got shown the door. **Congress was trading it too:** - Rep. Jefferson Shreve bought $50,001-$100,000 worth of $XYZ, then sold 3 times - Rep. Josh Gottheimer also bought shares - These trades were filed while the company was planning layoffs **The math that should make you angry:** - Block could have paid those 4,000 employees an average salary of $200K/year for a total of $800M - That's less than what they spent on stock buybacks alone ($1.17B) - They literally chose buybacks over people The company had $8B in cash, made $2.9B in profit, and still fired 4,000 people. Not because they needed to. Because Wall Street rewards "efficiency." AI just happens to be excellent excuse.