Jack Dorsey’s Block cuts nearly half of its staff in AI gamble

Jack Dorsey's Block, the fiscal tech institution that runs Square and the Cash app, is cutting its workforce by "nearly half" and axing much than 4,000 jobs. The institution volition shrink from much than 10,000 radical to little than 6,000, Dorsey says successful a station connected X. And the crushed why? AI.

"We're not making this determination due to the fact that we're successful trouble," Dorsey says. "Our concern is strong. Gross nett continues to grow, we proceed to service much and much customers, and profitability is improving. But thing has changed. We're already seeing that the quality tools we're creating and using, paired with smaller and flatter teams, are enabling a caller …

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