AI doomsday fear coming true? Jack Dorsey-led Block lays off nearly half of its staff, Twitter …

Block, led by CEO Jack Dorsey has announced the most dramatic layoffs in recent times as the company has slashed around 40% jobs which is nearly half of its workforce in a single round of layoffs. From 10,000, the company’s workforce has come down to 6,000. “Repeated rounds of layoffs are destructive to morale, focus, and to the trust of customers and shareholders. I’d rather take a hard, clear action now and build from a position we believe in than manage a slow reduction of people toward the same outcome,” Jack Dorsey wrote in a post on X. According to a letter to shareholders by co-founder Jack Dorsey, “intelligence tools” remain the key reason behind the layoffs. Dorsey thinks most companies will follow suit in the near future. “A significantly smaller team, using the tools we’re building, can do more and do it better. And intelligence tool capabilities are compounding faster every week,” Dorsey wrote. Is the AI doomsday report coming true? The job cuts at Block, the company behind Square, Cash App and Afterpay, come as AI has reshaped jobs across the tech sector and is raising concerns about the future of the job market. Companies like Amazon, Meta
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