BlockBeats News, February 27th, Binance founder CZ commented on social media that “Block plans to lay off nearly half of its employees, betting on AI to improve company efficiency,” stating: “The reality is, either leverage AI to the moon, or wait to be replaced/laid off by AI.”
BlockBeats previously reported that Twitter founder Jack Dorsey’s Bitcoin payment company Block is laying off 4,000 employees, with a layoff rate of nearly half. The company is placing its bet on artificial intelligence transforming future labor productivity. In response to the layoff plan, Block’s stock price soared 22% in after-hours trading.
