Block, the parent company of payment apps Square, Cash App and Afterpay, is laying off more than 40 percent of its staff, pointing to recent advancements in AI that are “enabling a new way of working.

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Block, the company behind Square, Cash App and Afterpay, is cutting its staff by 40%. The reason: “intelligence tools,” according to a letter to shareholders by co-founder Jack Dorsey. Dorsey thinks ...

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The CEO of Block, Inc., announced layoffs of about half its workforce on Feb. 26, citing AI as the reason for the large cuts and warning the tech industry of a larger push towards AI. Jack Dorsey, CEO ...