Fintech company Block Lay's off 4,000 of its 10,000 staff

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Fintech company Block lays off 4,000 of its 10,000 staff, citing gains from AI
BANGKOK (AP) — Shares in the financial technology company Block soared more than 20% in premarket trading Friday after its CEO announced it was laying off more than 4,000 of its 10,000 plus employees,...

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Opinion
Block Lays Off 40% Of Staff And Blames It On AI. Don’t Buy The Excuse.
Block lays off nearly half its staff because of AI. Its CEO said most companies will do the same
Block Cuts 40% of Its Work Force Because of Its Embrace of A.I.
Block, the financial technology company that owns Square, Cash App and Tidal, said on Thursday that it was cutting 40 percent of its work force as it embraced new artificial intelligence tools.

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Jack Dorsey to cut 4,000 jobs due to AI advances at Square parent Block
Block says AI will allow it to cut more than 4,000 jobs. Some argue that’s not the whole story.
Wall Street heading toward losing week; Block cuts 40% of its workforce citing shift to AI
U.S. futures fell as investors focused on comments by Block CEO Jack Dorsey on his company’s decision to lay off 40% of its workforce because of labor-saving artificial intelligence.

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US stocks sink and oil prices rise as worries about AI, inflation and possible war hit Wall Street
Block to Cut 4,000 Workers as AI Replaces Jobs -- Update

Inside Block's AI push that ended in pink slips

Laid-off Block employees say they were embracing AI tools in what one called an almost "celebratory" way. Then it replaced them.

'Most Firms Are Late': Jack Dorsey's Block Cuts 4,000 Jobs Amid AI Layoffs

Twitter co-founder Jack Dorsey said they opted for a single deep round of cuts instead of multiple smaller layoffs over time.