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The tech industry has spent the last couple years debating whether artificial intelligence will actually eliminate jobs at scale or simply be used as an excuse for companies to engage in mass layoffs.
Block
just firmly planted its flag.
Jack Dorsey, co-founder and CEO of the Square parent, announced Thursday that his company is cutting about 40% of its workforce, reducing headcount from over 10,000 to just under 6,000. And he was explicit about the reason, telling investors on Block’s earnings call that “intelligence tools” have fundamentally changed what it means to build and run a company.
