Jack Dorsey's mea culpa on Block layoffs: 'We overhired'

Jack Dorsey told Block staff that the layoffs were not due to AI.

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• Jack Dorsey said Block overhired during COVID after building two company structures.
• Block slashed nearly half its workforce in a single sweeping round of layoffs on Thursday.
• Dorsey said AI and smaller teams are driving a 'new way of working.'

Jack Dorsey is taking responsibility for a key mistake behind Block's sweeping job cuts.

"Yes we over-hired during COVID,"...