Fintech company Block lays off 4,000 of its 10,000 staff, citing gains from AI

[mathematic]

7. They tripled headcount from '19 to '23 and after this reduction, they'll still be +50% from then

Block, like every business that makes software, massively hired during the covid era.

Like all the other layoffs mentioning "AI", they'd rather pitch this as accomplishment of using new technology to become more productive rather than as a correction from the mistake of overhiring.