Fintech company Block lays off 4,000 of its 10,000 staff, citing gains from AI

BANGKOK (AP) — Shares in the financial technology company Block have soared more than 20% in after-hours trading after its CEO announced it was laying off more than 4,000 of its 10,000 some employees due to its use of artificial intelligence. “The core thesis is simple. Intelligence tools have chan...

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