Block lays off nearly half its staff because of AI. Its CEO said most companies will do the same – CNN

Financial technology company Block has reportedly implemented significant staff reductions, attributing the decision to advancements in artificial intelligence. The layoffs come as companies increasingly integrate AI into their operations.

The cuts affected nearly half of Block’s workforce. CEO Jack Dorsey reportedly indicated that he expects similar AI-driven workforce adjustments to become a common practice across a majority of companies in the future.