Block is the latest business to announce layoffs, with the operator of payment platforms Square and Cash App opting to cut jobs in favor of using more AI tools. The financial tech company, helmed by Twitter founder Jack Dorsey, is slashing its current staff of 10,000 to "just under 6,000." CNBC highlighted a letter Block sent to shareholders announcing the decision to nearly halve its workforce. According to the message from Dorsey:
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He says that three things have allowed SpeedPro to stand out from the competition: growth, profitability and efficiency. “We run the company with the mindset that each one of the individual studio owners is their own business leader,” he says.