Block is the latest business to announce layoffs, with the operator of payment platforms Square and Cash App opting to cut jobs in favor of using more AI tools. The financial tech company, helmed by Twitter founder Jack Dorsey, is slashing its current staff of 10,000 to "just under 6,000." CNBC highlighted a letter Block sent to shareholders announcing the decision to nearly halve its workforce. According to the message from Dorsey:
All of these changes came in the wake of layoffs, big-name flops, more layoffs, studio closures, even more layoffs, strikes and (yep) layoffs again. Earlier this month, Ubisoft even fired an employee who criticized the company’s return-to-office mandate.
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