Block says AI will let it cut more than 4,000 jobs. Some argue that's not the whole story.

Group 1 - Block's stock increased by 16% following the announcement of significant advancements in artificial intelligence that will enable the company to reduce its workforce by over 40% [1] - The employee count at Block rose from under 4,000 at the end of 2019 to over 10,000 recently, indicating a substantial increase in workforce prior to the job cuts [2] - The company plans to reduce its workforce to below 6,000 employees as part of the restructuring [2]