Block lays off nearly half its staff because of AI. Its CEO said most companies will do the same

By Ramishah Maruf, CNN New York (CNN) — 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 most companies will follow suit in the near future. The company is laying off more than