Block, co-founded by Jack Dorsey, is laying off nearly half its workforce due to AI’s impact on business operations, reducing staff from 10,000 to under 6,000. Dorsey predicts AI will drive similar changes across companies soon. This follows tech industry-wide layoffs, including Amazon and Meta, as firms shift focus to AI investments. Block anticipates up to $500 million in restructuring costs but reported strong product demand, positively affecting its stock.
Jack Dorsey’s Block Cuts Thousands of Roles as It Embraces AI
