CEO cited AI advances in cutting 4,000 workers, but a weak crypto market and declining stock price may also be at play Jack Dorsey cited AI as the driving force behind cutting 40% of his company’s ...

Software stocks have plunged this year on fears of AI disruption. Block seemed to confirm those fears by announcing mass layoffs as it pivoted AI. Software stocks fell on the news, but it's likely to ...

Payments company Block announced it’s laying off 40% of its staff. According to Chairman and founder Jack Dorsey: “This decision comes from a position of strength. Intelligence tools have changed what ...

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, ...

Jack Dorsey's approach to layoffs at Block struck a different tone than other tech sector cuts. Block announced it will lay off roughly 40% of its employees, citing "intelligent tools." Dorsey offered ...

Jack Dorsey announced major layoffs at Block, cutting nearly half of its workforce. Dorsey said AI was behind the cuts, and the company's stock rose over 20% in after-hours trading. Tech and VC ...

Block XYZ3.28%increase; green up pointing triangle, the payments company founded by Jack Dorsey that includes Square and Cash App, said Thursday that it plans to lay off 40% of its workforce, or more ...

File- This photo taken Nov. 19, 2015, shows Square CEO Jack Dorsey being interviewed on the floor of the New York Stock Exchange. (AP Photo/Richard Drew, File) File- This photo taken Nov. 19, 2015, ...

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 ...

This is read by an automated voice. Please report any issues or inconsistencies here. Fintech company Block said Thursday that it’s cutting more than 4,000 workers or nearly half of its workforce as ...