![\"Jack](\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjYtMDIvMDE5YzljMWYtYzRlOC03ZmIwLWI3MmItNTZhNWE4ZTA0YjcxLmpwZw==.jpg\")
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Bloomberg reported earlier this month that 10% of Block\u2019s workforce could be cut during annual performance reviews as part of a broader overhaul.<\/p>\n
Jack Dorsey\u2019s payments company Block will cut over 4,000 of its staff, with its co-founder pinning the move on the rapid acceleration of AI.<\/p>\n
\u201cWe’re already seeing that the intelligence tools we\u2019re creating and using, paired with smaller and flatter teams, are enabling a new way of working which fundamentally changes what it means to build and run a company, and that’s accelerating rapidly,\u201d wrote Dorsey in a letter to the company, which he shared<\/a> on X.\u00a0<\/p>\n \u201cI had two options: cut gradually over months or years as this shift plays out, or be honest about where we are and act on it now. I chose the latter. Repeated rounds of cuts are destructive to morale, to focus, and to the trust that customers and shareholders place in our ability to lead,\u201d he added.<\/p>\n Read more<\/p>\n<\/p>\n If you liked the article, do not forget to share it with your friends. Follow us on\u00a0Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n If you want to read more News<\/a> articles, you can visit our General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n\n