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News@lemmy.world · 11 days ago

Block lays off nearly half its staff because of AI. Its CEO said most companies will do the same

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Block lays off nearly half its staff because of AI. Its CEO said most companies will do the same

return2ozma@lemmy.world to

News@lemmy.world · 11 days ago

Block lays off nearly half its staff because of AI. Its CEO said most companies will do the same | CNN Business

Block, the company behind Square, Cash App and Afterpay, is cutting its staff by 40%. The reason: “intelligence tools,” according to a letter to shareholders by co-founder Jack Dorsey.

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ClamDrinker@lemmy.world
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10 days ago
Firing employees for AI really is the company equivalent of a darwin award huh.
- jj4211@lemmy.world
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  9 days ago
  Block is not doing so hot, they were evidently in a downward spiral already.
  
  So AI is a good cover.
  
  Basically “Square” worked out great, but everything after has gone badly.

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