Omar Marques | Lightrocket | Getty Images Cryptocurrency trading platform Crypto.com announced Thursday that it is laying off 12% of its staff as the company integrates artificial intelligence. “We are joining the list of companies integrating enterprise-wide AI. Companies that do not make this pivot immediately will fail,” CEO Kris Marszalek posted on X. “As…
Block CEO Jack Dorsey’s move to cut nearly half the company’s workforce is shining a spotlight on a growing question for corporate America: whether advances in artificial intelligence will ultimately mean fewer workers. In an earnings call Thursday, Dorsey said Block will cut about 4,000 jobs. Dorsey framed the move as more than a cost-cutting…
Block said Thursday it’s laying off more than 4,000 employees, or about half of its head count. The stock skyrocketed more than 24% in extended trading. “Today we shared a difficult decision with our team,” Jack Dorsey, Block’s co-founder and CEO, wrote in a letter to shareholders. “We’re reducing Block by nearly half, from over…
Last spring, Chantel Williams’ position in the federal government was in limbo. Williams, once a General Services Administration employee on its hiring and recruitment team, found herself in a state of confusion and anxiety. The agency she worked for was in a holding pattern as Elon Musk’s so-called Department of Government Efficiency began its work…
Pinterest shares cratered more than 20% on Friday, after the company cited tariff-related shocks in disappointing fourth-quarter earnings. The social media company’s Q4 earnings came in below analysts’ expectations, with revenue of $1.32 billion compared with LSEG consensus estimates of $1.33 billion. Net income for the quarter plunged 85% to $277 million from $1.85 billion…
Guests shop Target Black Friday Deals and Taylor Swift Exclusive Products on November 29, 2024 in Jersey City, New Jersey. Dave Kotinsky | Getty Images Target said Monday that it’s stepping up store staffing, but eliminating about 500 jobs in distribution centers and regional offices as it tries to win back shoppers who have complained…
A worker drives a United Parcel Service (UPS) truck on Oct. 28, 2025 in Los Angeles, California. Mario Tama | Getty Images United Parcel Service on Tuesday announced that it was planning to eliminate an additional 30,000 jobs this year as part of winding down its partnership with Amazon and a multi-year turnaround plan. CFO…
Around 80% of workers feel unprepared for the job hunt in 2026, new LinkedIn research finds. Filadendron | E+ | Getty Images Artificial intelligence could be something of a game changer for recruiters as firms continue to be inundated with job applications, according to one LinkedIn executive. Janine Chamberlin, LinkedIn’s U.K. country manager, told CNBC…
Sad female worker carrying her belongings while leaving the office after being fired Isbjorn | Istock | Getty Images Layoffs have been a defining feature of the job market in 2025, with several major companies announcing thousands of job cuts driven by artificial intelligence. In fact, AI was responsible for almost 55,000 layoffs in the…
People walk on the campus of Massachusetts Institute of Technology in Cambridge, Massachusetts, April 15, 2025. Joseph Prezioso | AFP | Getty Images Massachusetts Institute of Technology on Wednesday released a study that found that artificial intelligence can already replace 11.7% of the U.S. labor market, or as much as $1.2 trillion in wages across…
