Block, A.I. and the Front-Running of the Curve

Block, A.I. and the Front-Running of the Curve

When Jack Dorsey announced last week that Block—the parent company of Square, Cash App and Afterpay—would cut its workforce by 40 percent, axing more than 4,000 jobs and reducing its headcount to less than 6,000, the reaction of capital markets was immediate and brutal in its clarity: Block’s stock had surged more than 22 percent…

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Block’s A.I. Layoffs Signal a Tipping Point for White-Collar Work

Block’s A.I. Layoffs Signal a Tipping Point for White-Collar Work

Block CEO Jack Dorsey’s announcement of an A.I.-driven 40 percent reduction in the company’s workforce—followed by other major firms justifying their own workforce reductions as A.I.-related—triggered immediate speculation about A.I.’s impact on white-collar employment. While the news also prompted an immediate spike of more than 20 percent in Block’s stock price, the more consequential issue…

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