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

One big question in the wake of Block's XYZ job-cuts announcement is whether AI really is the cause of such widespread reductions in head count. For instance, Block's employee count swelled in the years since the COVID-19 pandemic began, going from under 4,000 at the end of 2019 to a recent figure over 10,000. The company, which houses Square and Cash App, will pare its workforce to below 6,000 employees. Block's stock is rocketing 16% after the company said that massive advancements in artificial intellige ...