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News@lemmy.world · 5 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 · 5 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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3 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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