tech
February 27, 2026
Opinion: Block's layoffs might just be the biggest story of a tumultuous week. Here's why
Block, Jack Dorsey's payments company, will cut 6,000 of its 10,000 workers as it embraces AI. CNBC's Steve Sedgwick says it's the biggest story of the week.
TL;DR
- Block is laying off nearly 4,000 of its 10,000 employees.
- The company cites efficiency gains from AI and 'intelligence tools' as a reason for the cuts.
- CEO Jack Dorsey expects other companies to make similar workforce changes within the next year.
- The article questions where new jobs will be created to replace those potentially lost to AI automation.
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