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Shares in company increased over 20% as investors were encouraged by CEO’s assertion that cuts will drive profits Sign up for the Breaking News US email to get newsletter alerts in your inbox Fintech ...

Payments company Block announced it’s laying off 40% of its staff. According to Chairman and founder Jack Dorsey: “This decision comes from a position of strength. Intelligence tools have changed what ...

Block, the parent company of payment apps Square, Cash App and Afterpay, is laying off more than 40 percent of its staff, pointing to recent advancements in AI that are “enabling a new way of working.

Jack Dorsey announced major layoffs at Block, cutting nearly half of its workforce. Dorsey said AI was behind the cuts, and the company's stock rose over 20% in after-hours trading. Tech and VC ...

Twitter co-founder Jack Dorsey says his technology firm Block is laying off almost half its workforce because artificial intelligence (AI) "fundamentally changes what it means to build and run a ...

Block, the company behind Square, Cash App, and Afterpay, has joined the growing list of tech firms blaming artificial intelligence for sweeping job cuts. On Thursday, founder and CEO Jack Dorsey ...

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 ...

Block, the parent company of Square and the Cash App, is conducting a major reorganization in the age of artificial intelligence, and investors are rewarding the move. The payment-technology company ...

Block to cut over 4,000 jobs CEO says AI has changed how a company is run Stock surges 25% after market Analysts call cuts a "seminal moment" in AI era Feb 26 (Reuters) - Block (XYZ.N), opens new tab ...

Block said Thursday it's laying off more than 4,000 employees, or about half of its head count. Shares of the payment company skyrocketed as much as 24% in extended trading. It was last seen up nearly ...

Twitter co-founder Jack Dorsey is axing more than 4,000 employees at his fintech company Block — slashing the workforce by nearly half in what he called a necessary shift toward ‘intelligence tools.’ ...