Block head says AI made him lay off


"'Within the next year, I believe the majority of companies will reach the same conclusion and make similar structural changes,' he wrote in a letter to shareholders.

"The layoffs will mean headcount at the company  —which owns Square, CashApp and Tidal -—will fall to less than 6,000 from 10,000.

"Block has seen several rounds of layoffs since 2024 but this is the first time it has cited AI as the reason for redundancies and marks the latest in a series of major job cuts in the tech industry."



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