Fintech company Block lays off 4,000 of its 10,000 staff, citing gains from AI

Shares in the financial technology company Block have soared more than 20% in after-hours trading after its CEO announced it ...
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AI is key driver behind layoffs at fintech company Block, CEO says

Shares in the financial technology company Block soared more than 20% in premarket trading Friday after its CEO announced it was laying off more than 4,000 of its 10,000 plus employees, reconfiguring ...

Block says AI will allow it to cut more than 4,000 jobs. Some argue that’s not the whole story.

Block’s “audacious” move ignites debate over whether the company is using AI as an excuse to walk back reckless hiring.

Block Lays Off 40% of Staff Citing AI. CEO Dorsey Says Other Firms Will Make Similar Moves.

Block shares soared after the fintech company announced massive layoffs, as CEO Jack Dorsey warned that most companies would be making similar moves in the next year.

Block: A 40% Layoff Is Not Bullish (Even With AI) (Rating Downgrade)

Block, Inc. delivered a solid Q4 with 24% gross profit growth and 46% adjusted operating income growth. Click here to find out why XYZ is a Sell.

Block: A Bombshell 40% Workforce Cut Sparks A New AI Rally

Block, Inc. earns a Buy rating after a strong Q4, driven by aggressive AI-enabled headcount cuts and robust guidance. Learn ...