Block CEO Jack Dorsey lays off nearly half of his staff because of AI and predicts most companies will make similar cuts in the next year

In recent weeks, the tech world has been abuzz with AI “jobpocalypse” warnings. Microsoft AI chief Mustafa Suleyman warned that white-collar jobs had a year to 18 months before widespread job displacement. Former presidential candidate Andrew Yang and JPMorgan Chase CEO Jamie Dimon concurred.

These threats have caused many professional workers’ stomachs to churn as they fear for their heads. Now, Jack Dorsey’s payments firm Block has made a move that vindicates some of the fears of the AI doomers.