Block announced a reduction of 40% of its staff as it pivots toward artificial‑intelligence tools. The move comes amid growing concerns that AI could displace jobs across the economy, even as recent U.S. employment data suggest a stabilizing labor market. Block’s CEO Jack Dorsey framed the cuts as a strategic shift despite what he described as a strong financial performance, while the company continues its contrarian focus on bitcoin amid a broader industry trend toward stablecoins. Read more →