Block lays off 40% of workforce as it goes all-in on AI tools
Summary
Ars Technica reports Block's plan to lay off about 40% of its staff as it doubles down on AI tools, signaling a significant shift in how AI is affecting employment in tech. The article quotes CEO Jack Dorsey linking productivity gains to intelligence tools and places the move within a broader pattern of tech layoffs and AI-driven restructuring. It also provides context on Block's finances, Bitcoin bets, and comparisons to other large employers contemplating or executing cuts.