Are Dorsey’s giant job cuts the start of an AI jobs apocalypse? Economists weigh in
Block CEO Jack Dorsey’s decision to cut nearly half the company’s workforce raises questions about AI’s impact on jobs, but economists suggest this is a company-specific adjustment rather than a sign of a broader labor market shift. While AI may disrupt some jobs, experts like Claudia Sahm emphasize that it doesn’t necessarily lead to mass layoffs, and other economists believe AI will enhance productivity by changing workflows rather than eliminating jobs outright.