Jack Dorsey’s Block to cut nearly half its workforce in AI overhaul, shares surge

By Manya Saini and Arasu Kannagi Basil Feb 26 (Reuters) - Block on Thursday said it will cut over 4,000 jobs, nearly half its workforce, as part of an overhaul to embed artificial intelligence across its ‌operations, sending shares of the payments firm up 25% in after-hours trading. The layoffs signal how the AI boom ‌is translating from hype into workforce changes, fueling long-held concerns among workers and economists that the technology could eliminate roles even as it boosts productivity ​and profit ...