Block layoffs: More than meets the eye?

Seeing the news about Block cutting a huge chunk of their workforce, supposedly due to 'productivity gains' from new tech. Honestly, it feels a bit disingenuous. We've all heard the stories about companies using this as a smokescreen. While I'm sure there are some efficiency improvements happening, gutting nearly half the company? That seems like a much bigger strategic shift or maybe a financial pressure cooker situation that they're not fully disclosing. It's rough out there, and when a company makes a move this big, you can't help but wonder about the real reasons behind it. Are they consolidating products? Is the Square/Cash App growth plateauing faster than expected? Or is this just the new normal for big tech – trim, trim, trim, and blame the shiny new thing? Curious to hear if anyone has insider info or a different take on what's really going on at Block.