Twitter co-founder Jack Dorsey says his technology firm Block is laying off almost half its workforce because artificial intelligence (AI) "fundamentally changes what it means to build and run a company."
"Intelligence tools we're creating and using, paired with smaller and flatter teams, are enabling a new way of working," he wrote in a note to staff.
The layoffs will mean the headcount at the company - which owns Square, CashApp and Tidal - will fall to less than 6,000 from 10,000.
Block has seen several rounds of layoffs since 2024 but this is the first time it has cited AI as the reason for redundancies and marks the latest in a series of major job cuts in the tech industry.
At the end of January Amazon laid off 16,000 employees, having already cut 14,000 roles a few months earlier.
