Jack Dorsey, the former founder of Twitter, reported a plan to lay off about 4,000 employees from Blocks, which owns Square.
Jack explained in his announcement on his “X” account on Friday that the company “today took one of the most difficult decisions in its history, by reducing its organizational structure by nearly half, from more than 10,000 employees to less than 6,000, which means that more than 4,000 employees will be asked to leave.”
He stressed that this decision was not due to difficulties facing the company, but rather emphasized the company’s strong performance and the continued growth of its profits.
But he pointed to the impact of artificial intelligence, saying: “We are already seeing that the intelligence tools that we create and use are enabling a new way of working,” leading to major changes.
He also explained that he faced two options: gradual or immediate dismissal, and he chose the latter, considering that the first would be more painful.
He concluded by saying, “I am grateful to you, and I apologize that you are going through this. You are the ones who built what this company is today. This is a fact that I will always respect. This decision does not reflect the value of what you have provided. Rather, you will be a great addition to any organization in the future.”
In a related context, some experts believe that the wave of mass layoffs and the “job earthquake” resulting from the development of artificial intelligence has already begun.
