Twitter co-founder Jack Dorsey is axing more than 4,000 employees at his fintech company Block — slashing the workforce by nearly half in what he called a necessary shift toward ‘intelligence tools.’ Dorsey sent a letter to shareholders saying the company,

Dorsey framed the move as a productivity reset fueled by AI. Critics, however, said the explanation may not tell the whole story.

In cutting nearly 40% of its workforce, Block loudly professed that the days of AI taking the jobs of humans has arrived.

Shares in company increased over 20% as investors were encouraged by CEO’s assertion that cuts will drive profits

Jack Dorsey has long been an open admirer of Elon Musk. Now, it seems, he may have been taking notes.