Source: International Business Times
Block CEO Jack Dorsey said AI's growing capability, not financial difficulty, drove the company's 4,000-job cut in early 2026. The global tech sector has eliminated nearly 60,000 jobs in less than three months of 2026, and the companies doing the cutting are posting record revenues while pointing to artificial intelligence as the reason. Layoff tracker TrueUp shows 171 separate events have hit 59,121 workers since January, an average of 704 jobs lost per day.
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