Jack Dorsey’s fintech outfit Block announces 40% layoffs, blames AI, gets 23% stock bump
The Register AI
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Generative AI
One massive round of firings is apparently better for morale than a drip-drip-drip of death Twitter co-founder Jack Dorsey’s financial services company Block has announced it will fire 40% of staff - around 4,000 people - because new "intelligence tools" the company is implementing “can do and do it better.