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 substantial staff reductions, laying off nearly half of its employees. The company cited the role of artificial intelligence as the reason for these widespread job cuts.

Block’s CEO reportedly indicated that this move could signal a broader industry trend. According to the CEO, most companies are expected to undertake similar staffing adjustments as AI technology continues to advance and integrate into business operations.