Block's Jack Dorsey wants nimble and quick. He thinks AI will do the trick.

Joe Raedle/Getty Images

• This post originally appeared in the Business Insider Today newsletter.
• You can sign up for Business Insider's daily newsletter here.

Block be nimble/Block be quick/Jack thinks cutting nearly half his staff because of AI will do the trick.

Block CEO Jack Dorsey announced he's cutting nearly half his staff, axing more than 4,000 of the company's 10,000 employees. It's a drastic move, especially considering Block is doing fine as a business, according to Dorsey.