{"id":447943,"date":"2026-02-27T05:12:13","date_gmt":"2026-02-27T05:12:13","guid":{"rendered":"https:\/\/www.newsbeep.com\/uk\/447943\/"},"modified":"2026-02-27T05:12:13","modified_gmt":"2026-02-27T05:12:13","slug":"jack-dorseys-block-cuts-thousands-of-roles-as-it-embraces-ai","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/uk\/447943\/","title":{"rendered":"Jack Dorsey’s Block cuts thousands of roles as it embraces AI"},"content":{"rendered":"

At the end of January Amazon laid off 16,000 employees<\/a>, having already cut 14,000 roles a few months earlier.<\/p>\n

In a subsequent call discussing financial results, Brian Olsavsky, Amazon’s chief financial officer, said the company was looking at cost reductions elsewhere as it ramps up AI spending<\/a>. <\/p>\n

Meta, Microsoft and Google have also laid off workers as their focus has shifted to huge investments in AI.<\/p>\n

Mark Zuckerberg, Meta’s co-founder and chief executive, said he is expecting<\/a> “2026 to be the year that AI dramatically changes the way we work.”<\/p>\n

“We’re starting to see projects that used to take big teams now be accomplished by a single, very talented person,” Zuckerberg said.<\/p>\n

Most tech companies today are using AI tools that automatically write the computer code required to operate software or websites, like Claude Code from Anthropic or Codex from OpenAI. <\/p>\n

Such automation of what has for decades been work done by highly trained people has led to fears that AI will overturn the job market<\/a>.<\/p>\n

But some analysts have suggested the immediate threat to jobs has been exaggerated by executives who want to appear ahead of the curve.<\/p>\n

According to Dorsey, only more change related to AI capabilities is on the way.<\/p>\n

“I don’t think we’re early to this realisation,” he said Thursday. “I think most companies are late”. <\/p>\n

Block’s financial report showed strong demand for its products and services, pushing up profits at the end of last year.<\/p>\n

The firm also said it will incur up to $500m (\u00a3370m) in restructuring costs as it pivots to the new strategy.<\/p>\n

Its shares rose by more than 20% in extended trading after the announcement.<\/p>\n

Dorsey is a co-founder and former chief executive of Twitter, the online micro-messaging platform that was later bought by Elon Musk and renamed X.<\/p>\n","protected":false},"excerpt":{"rendered":"At the end of January Amazon laid off 16,000 employees, having already cut 14,000 roles a few months…\n","protected":false},"author":2,"featured_media":447944,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20],"tags":[554,733,4308,86,56,54,55],"class_list":{"0":"post-447943","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-artificial-intelligence","8":"tag-ai","9":"tag-artificial-intelligence","10":"tag-artificialintelligence","11":"tag-technology","12":"tag-uk","13":"tag-united-kingdom","14":"tag-unitedkingdom"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/447943","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/comments?post=447943"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/447943\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media\/447944"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media?parent=447943"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/categories?post=447943"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/tags?post=447943"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}