Jack Dorsey plans to cut 4,000 jobs at Block, citing AI-led efficiency. The move has excited investors, with shares surging 27% post-announcement.
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Jack Dorsey's Block will remove 4,000 workers from its 10,000-strong team, as AI can get the job done for less.
Wall Street rewards CEOs who make steep cuts and attribute those cuts to AI. That could embolden other management teams to follow suit ...
Dorsey said he expects other companies to reduce their workforces as "intelligence tools" increase efficiency.
L'entreprise de Jack Dorsey va tailler dans ses effectifs parce que les outils IA vont remplacer des milliers d'emplois. Le dirigeant pense que ce mouvement est inexorable, ce qui alimente les ...
Jack Dorsey, CEO of Block Inc, is not only laying off nearly half of the company's workforce, but he wants investors to think he's an AI-focused trailblazer for doing so. In a letter to shareholders on Thursday, Dorsey shared that Block's workforce ...
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, reconfiguring to capitalize on its use of artificial ...
"A significantly smaller team, using the tools we're building, can do more and do it better," the Block CEO said.
Block, which Dorsey founded in 2009, is the US market leader in point-of-sale systems. It operates Square, Cash App, and Tidal, boasting over 60 million users.Read Entire Article ...
Block stock jumps after Jack Dorsey frames a nearly 50% staff cut as an "AI-era" reset, signaling a major strategic shift at the fintech giant.