Jack Dorsey lays off 4,000, says others will do same 'within the next year'

"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 we're building, can do more and do it better. And intelligence tool capabilities are compounding faster every week."

"I think most companies are late. Within the next year, I believe the majority of companies will reach the same conclusion and make similar structural changes. I'd rather get there honestly and on our own terms than be forced into it reactively."

"We believe Block will be significantly more valuable as a smaller, faster, intelligence-native company."

Block, led by Jack Dorsey, announced a massive layoff of nearly 4,000 employees—almost half its workforce—despite the company achieving a $1.3 billion profit in a strong year. Dorsey attributed this drastic reduction to artificial intelligence tools fundamentally changing how companies operate and scale. He stated that smaller teams using AI tools can accomplish more work with greater efficiency. Dorsey warned the broader tech and business community that most companies are late to this realization and predicted the majority will make similar structural changes within the next year. He positioned Block's smaller size as advantageous for increased focus, faster product releases, and quicker organizational learning, declaring the company will be significantly more valuable as an intelligence-native operation.

Read at SFGATE