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.
— CNN (@cnn.com) February 27, 2026 at 2:02 AM
Block is Jack Dorsey’s latest technology company, it’s some kind of digital payment platform
The company has been doing well, but yesterday Dorsey fired 4000 employees (40% of the company) bc AI can do the same jobs
The stock went up by 25% after the announcement
Is AI coming to steal your job ontd?
