Jack Dorsey Just Fired Half His Company Because of AI and the Stock Price SKYROCKETED

Jack Dorsey, the guy who co-founded Twitter, just made one of the boldest moves in tech history. He fired nearly half the employees at Block (the company behind Cash App and Square) and basically said AI can do their jobs better.

And here's the kicker: the stock shot up 14.4% after the announcement.

In a letter to investors, Dorsey didn't sugarcoat it. He said intelligence tools have fundamentally changed what it means to build and run a company. A much smaller team, using AI tools, can apparently do more and do it better than thousands of human workers.

But it's his next quote that should make every office worker nervous: "I don't think we're early to this realization. I think most companies are late. Within the next year, I believe the majority of companies will reach the same conclusion and make similar structural changes."

That's over 4,000 people losing their jobs from a workforce of 10,000. And Wall Street loved it. The message is clear: companies that slash headcount and replace humans with AI get rewarded by investors.

This isn't some startup experimenting. This is a major public company with billions in revenue saying the future has fewer humans in it. And the stock market is voting with its wallet.

As reported by the Associated Press.

Source: Associated Press