By @ACSnewsfeed
Publication Date: 2026-03-02 00:00:00
Afterpay’s parent company Block is cutting 4,000 jobs – almost half of its workforce – as the tech giant goes all-in on artificial intelligence.
Another large technology company is blaming the use of AI and automation for massive job cuts.
Block co-founder Jack Dorsey publicly released a note to employees last week telling them the fintech titan’s workforce would be reduced from more than 10,000 to just over 6,000.
This is likely to impact many Australian workers as Block acquires local fintech giant Afterpay, still based in Sydney, in 2022.
The job cuts came even as Block reported strong financial results and its fourth-quarter forecast rose nearly 25 percent to $4.03 billion ($2.87 billion).
“Rapid acceleration”
Dorsey said this was “one of the most difficult decisions in our company’s history” and was not due to financial issues, but rather to “put intelligence at the heart of everything we do.”
“We don’t do that…
