From Quartz.

🎥 Video Details 🎥

🌟 About This Video 🌟
Block said Thursday it will lay off about 40% of its workforce, framed as an AI-driven pivot signaling a shift in how it operates.
Founder Jack Dorsey detailed the Block layoffs in a staff note and X post, casting the move as an AI pivot enabled by smaller, flatter teams.
The company said the reduction may mark the largest single-round percentage cut in the S&P 500, and after-hours trading sent shares up about 20%.
Dorsey outlined severance terms and said one decisive cut was preferable; critics, including Ethan Mollick, questioned the AI rationale given prior headcount growth. #blocklayoffs #jackdorsey #fintech #corporatestrategy

🤖 Crafted with Rizzle AI 🤖

This video was created using Rizzle AI, the ingenious no-edit video creation platform, with industry-leading assets from GettyImages and Soundstripe. Elevate your video content with Rizzle AI: https://app.rizzle.com/create

🔔 If you enjoyed this video, don’t forget to like, share, and subscribe! 🔔