Shares in the payment company soared more than 25 percent in after-hours trading on Thursday as it announced it would shed more than 4,000 jobs from its 10,000-strong workforce.
“Intelligence tools have changed what it means to build and run a company. We’re already seeing it internally,” Dorsey wrote in a letter to shareholders.
“A significantly smaller team, using the tools we’re building, can do more and do it better. And intelligence tool capabilities are compounding faster every week.”
Dorsey, who left his role as CEO of Twitter in 2021, is among the first Silicon Valley chiefs to explicitly tie huge job cuts to the ability of AI to replace human workers.
How long before Dorsey goes full musk and forces all Bluedky users to integrate with block?
I think Dorsey left a Bluesky a long time ago. is Dorsey’s social media of choice. He’s obsessed with Bitcoin. They’re obsessed with Bitcoin. He gave them a huge Bitcoin donation…