Jack Dorsey’s Block to cut 4,000 jobs in AI overhaul; shares jump 25% after hours

Jack Dorsey’s Block to cut 4,000 jobs in AI overhaul; shares jump 25% after hours

Block is cutting over 4,000 jobs, nearly half its staff. This move signals how artificial intelligence is changing businesses. CEO Jack Dorsey stated that a smaller team using AI tools can achieve more. Investors are rewarding companies showing AI-driven cost…

Block on Thursday said it will cut over 4,000 jobs, nearly half its workforce, as advances in AI reshape how it builds and runs its business, sending its shares up 23% in after-hours trading.The layo… [+2436 chars]

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Jack Dorsey’s Block to cut 4,000 jobs in AI overhaul; shares jump 25% after hours - FHMnews