Block lays off nearly half its staff because of AI. Its CEO said most companies will do the same (opens in new tab)

Covered by 3 sources including Entrepreneur, Founder ReportsDiscussed on Hacker News, r/Economics, and r/news

Block, the company behind Square, Cash App and Afterpay, is cutting its staff by 40%. The reason: “intelligence tools,” according to a letter to shareholders by co-founder Jack Dorsey.

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