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Fortune

Jake Angelo

Block CEO Jack Dorsey lays off nearly half of his staff because of AI and predicts most companies will make similar cuts in the next year

Jack Dorsey Block X United States Citrini

jack dorsey (Credit: Eva Marie Uzcategui—Bloomberg/Getty Images)

In recent weeks, the tech world has been abuzz with AI “jobpocalypse” warnings. Microsoft AI chief Mustafa Suleyman warned that white-collar workers have a year to 18 months before they face widespread job displacement. Former presidential candidate Andrew Yang and JPMorgan Chase CEO Jamie Dimon concurred.

These threats have caused many professional workers’ stomachs to churn as they fear for their heads. Now, Jack Dorsey’s payments firm, Block, has made a move that vindicates some of the fears of the AI doomers.

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