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Blocks (parent company of Square & Cash App) lays off nearly 50% of workforce due to AI
Posted on 2/26/26 at 4:15 pm
Posted on 2/26/26 at 4:15 pm
TLDR: AI is coming for the majority of white collar jobs, sooner rather than later.
Loading Twitter/X Embed...
If tweet fails to load, click here. quote:
we're already seeing that the intelligence tools we’re 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.
20
Posted on 2/26/26 at 4:17 pm to The Pirate King
These clankers will get what's coming to them.
Posted on 2/26/26 at 4:18 pm to The Pirate King
They lost 30% of their value in the last 6 months (nearly half in 12 months). No doubt they are going to increase AI but what the hell else is going on?
This post was edited on 2/26/26 at 4:19 pm
Posted on 2/26/26 at 4:21 pm to The Pirate King
This is a direct result of DEI
DEI was forced down the throats of businessmen, who lost money on cleaning up after the mistakes of unqualified help. Now they can avoid all that
Sucks to be woke
DEI was forced down the throats of businessmen, who lost money on cleaning up after the mistakes of unqualified help. Now they can avoid all that
Sucks to be woke
Posted on 2/26/26 at 4:25 pm to The Pirate King
That severance deal was fair.
Posted on 2/26/26 at 4:35 pm to HempHead
quote:
These clankers will get what's coming to them.
We're not that far away from a Terminator/RoboCop reality as crazy as that sounds
Posted on 2/26/26 at 4:36 pm to The Pirate King
Jack Dorsey, the old Twitter guy, right? Can he not capitalize?
Oh, and there is a lot more going on here than just AI.
Oh, and there is a lot more going on here than just AI.
Posted on 2/26/26 at 4:38 pm to The Pirate King
AI has become the excuse to reduce workforce because of bloated staff and bad hiring.
They also send the message "we're using AI" buy our stock.
They also send the message "we're using AI" buy our stock.
Posted on 2/26/26 at 4:38 pm to The Pirate King
So glad I never bothered to learn to code
Posted on 2/26/26 at 4:41 pm to The Pirate King
26% share price pop with the news. coming to a company near you!
Posted on 2/26/26 at 4:42 pm to RobbBobb
quote:Has nothing to do with “being woke”
This is a direct result of DEI DEI was forced down the throats of businessmen, who lost money on cleaning up after the mistakes of unqualified help. Now they can avoid all that Sucks to be woke
Company bloat has nothing to do with DEI Block had been losing value, and is also one of the largest holders of Bitcoin, whose price has fallen hard recently.
Posted on 2/26/26 at 4:42 pm to The Pirate King
The guy doesn't punctuate or use correct spelling.
Maybe he should be replaced with AI.
Maybe he should be replaced with AI.
Posted on 2/26/26 at 4:43 pm to The Pirate King
quote:
TLDR: Guy gets [how many rounds?] of private capital, bloats his company in the name of "scaling," reaps the fruits of his staff's labor, cuts them loose to maximize return to fewer stakeholders
Posted on 2/26/26 at 4:46 pm to jaytothen
If my job was saved for now, I'd be looking for other work. Writing is on the wall.
Posted on 2/26/26 at 4:47 pm to The Pirate King
Is this not just tech firms gradually returning to pre-COVID levels of staffing after the rapid staff buildup from 2020-2022? And they are just using AI as an excuse?
Stumbled upon this tweet. So I think my initial cut at this is pretty accurate
Stumbled upon this tweet. So I think my initial cut at this is pretty accurate
Loading Twitter/X Embed...
If tweet fails to load, click here.This post was edited on 2/26/26 at 7:23 pm
Posted on 2/26/26 at 4:49 pm to The Pirate King
Meanwhile I’m sitting pretty moving furniture for wealthy folks
Posted on 2/26/26 at 4:51 pm to theCrusher
quote:
AI has become the excuse to reduce workforce because of bloated staff and bad hiring. They also send the message "we're using AI" buy our stock.
Exactly. It’s nothing but a buzzword to attempt to inflate the stock price. There’s been virtually zeros efficiency gains due to AI. They are simply cutting excess people that were doing nothing anyway bc it’s the only thing left to do when you aren’t growing
Posted on 2/26/26 at 4:52 pm to theCrusher
quote:
AI has become the excuse to reduce workforce because of bloated staff and bad hiring.
Agree
A ton of companies overhired during covid. Not sure why. Guess because money was cheap then
Posted on 2/26/26 at 5:00 pm to JoeyP239
quote:
There’s been virtually zeros efficiency gains due to AI.
some of you are very out of touch about the nexus that's been crossed recently and what's coming in the next 5 years. There's a reason that they're building AI data centers like hotcakes. Entire departments of companies will be laid off, save a few lucky individuals who will be tasked with oversight of the agentic AI output.
Posted on 2/26/26 at 5:24 pm to The Pirate King
When no one has jobs who is going to buy their product?
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