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.
Oh, we’re rewriting history, now? 😂🤣 Twitter went down more in the 6 months after acquisition than the rest of its history combined.
To be clear, Muskrat blew holes in the hull of a sinking ship when he took over, but they absolutely had too many people.
No it didn’t lol.