Jack Dorsey’s Block to cut workforce by ‘nearly half’ as it leans on AI tools:
Group’s shares surge 25% as CEO says ‘most companies are late’ to realise how much ...
ft.com/content/50b9952e-ec3b-4fae-874f-c5e8424fcb96
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Block Slashes Workforce Amid AI TransformationBlock to cut over 4,000 jobs despite strong 2025 revenue and bitcoin-related losses in Q4 earnings.
- Block will reduce nearly half of its 10,000-strong workforce by leveraging artificial intelligence tools.
- Shares surged more than 25% in after-hours trading following the job cut announcement.
- CEO Jack Dorsey highlights that smaller teams using AI can perform better, noting many companies are slow to adapt.
- The company posted solid 2025 financials but faced earnings pressure due to a 23% drop in bitcoin value.
fewer people doing some of the jobs that are being done today— Andy Jassy, Amazon CEO, warned that the technology would mean fewer people doing some of the jobs that are being done today in the coming years, especially in white-collar roles.
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field of computer science that develops and studies software enabling machines to exhibit intelligent behavior
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