Jack Dorsey's financial technology company, Block, has announced a major workforce reduction that will cut nearly half of its employees, signaling a dramatic shift in strategy as the company bets big on artificial intelligence. The move, which will reduce the company's workforce from over 10,000 to fewer than 6,000 employees, was revealed in a post by Dorsey on X (formerly Twitter).
AI-Driven Restructuring
The company's decision to slash its workforce comes as it seeks to pivot toward AI-powered solutions, particularly in its payment processing and financial services divisions. According to Dorsey, the company is not making
