While Jack Dorsey cites AI-enabled productivity gains as the reason for Block's cuts, the deeper shift is in payments plumbing: stablecoin settlement threatens to compress the fee stack that fintech ...
Block slashes nearly half its workforce as Jack Dorsey credits AI tools for making thousands of roles redundant. Stock soars 22%.
Jack Dorsey cuts more than 4,000 jobs at Block, shrinking the company by nearly half as he pivots toward smaller teams and AI.
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