Jack Dorsey’s Bold Move: Block’s Workforce Reduction & AI Strategy
In a surprising shift, Jack Dorsey’s Block, the fintech company behind Square and Cash App, is reducing its workforce by nearly 50%. This decision affects more than 4,000 jobs, shrinking the team from over 10,000 to under 6,000. Here’s why:
- Strong Performance: Dorsey emphasizes that the company is not in trouble; gross profits are growing, and profitability is on the rise.
- AI Revolution: The integration of AI tools is reshaping how Block operates, enabling leaner teams and innovative workflows.
- Proactive Approach: Dorsey opted for a decisive layoff rather than gradual cuts, believing in a strong, intelligence-driven future for Block.
As Block transitions into this new era, the focus is on becoming faster and more adaptable.
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