When fintech company Block laid off 40% off its workforce last week, CEO Jack Dorsey explained the decision in a memo to employees that he also shared on social media. He was eliminating more than 4,000 jobs in the name of AI efficiency, he said,
Start Your NewsReadery Pro FREE TRIAL!
| | |
#jackdorsey
Recent layoffs at Jack Dorsey's Block continued to raise fears of mass jobs destruction driven by AI models.
Riot Platforms reports $663 million loss despite soaring revenue, pivoting to AI/HPC while Core Scientific began its AI pivot.
Dorsey's move sparked fresh debate about AI's impact on jobs after a week dominated by doomsday scenarios.
Jack Dorsey to cut 4,000 workers at Block amid AI advances - but specters such as weak crypto market haunt company ...
The parent company of 'buy-now-pay-later' giant Afterpay has culled almost half of its Australian workforce, blaming the rise of artificial intelligence.
Wall Street just sent a jarring message: cutting half your workforce is good for business. Block (XYZ) shares surged more than 22% in after-hours trading this week after CEO Jack Dorsey announced plans to eliminate more than 4,000 jobs, nearly ...
Block Inc CEO Jack Dorsey announced he was laying off thousands of employees due to AI, but the real story is a little more complicated.
Shares in Block jumped as much as 27% as investors backed Jack Dorsey's AI-driven cull.
In cutting nearly 40% of its workforce, Block loudly professed that the days of AI taking the jobs of humans has arrived.