"And I think that's an advantage that a lot of these people in these boardrooms don't have."
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Block is the latest business to announce layoffs, with the operator of payment platforms Square and Cash App opting to cut jobs in favor of using more AI tools. The financial tech company, helmed by Twitter founder Jack Dorsey, is slashing its current staff of 10,000 to "just under 6,000." CNBC highlighted a letter Block sent to shareholders announcing the decision to nearly halve its workforce. According to the message from Dorsey:
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Existing directors are permitted to run for an additional term, but voting is weighted in favour of new candidates.