In a post on social media platform X, Dorsey said Block opted for a single deep round of cuts instead of multiple smaller layoffs over time. He said a smaller company would also give it space to grow the business the right way, instead of constantly reacting to market pressures.
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Jack Dorsey’s Block to cut nearly half its workforce in AI overhaul, shares surge
"Intelligence tools have changed what it means to build and run a company. We're already seeing it internally. A significantly smaller team using the tools can do more and do it better," CEO Jack Dorsey said in a statement.
