Block Cuts 40% of Its Workforce Because of AI — And Dorsey Says You're Next
There’s a moment in every technological revolution when theory becomes visceral. When the PowerPoints about “productivity gains” turn into 4,000 people cleaning out their desks. On Thursday, Block — the company behind Square, Cash App, and Afterpay — delivered that moment for the AI era. CEO Jack Dorsey announced the company is slashing its workforce by roughly 40%. More than 4,000 employees gone. From over 10,000 people down to just under 6,000. The reason, stated without euphemism: “intelligence tools.” ...