Block CFO Defends Job Cuts Due to AI Adaptation; Silicon Valley Executives Predict Increased Mass Layoffs

The skyline of San Francisco on March 25, 2024. John Fredricks/The Epoch TimesBlock’s Chief Financial Officer and Chief Operating Officer Amrita Ahuja defended the San Francisco-based payments company’s mass layoffs due to AI adaptation and called the shift inevitable.“We’re seeing an inevitability around productivity gains and what that means for us as a business,” she said at the WSJ CFO Council Summit in Palo Alto, California, on Tuesday. “We can actually reinvest those gains into what the new shape of operating expenses looks like. It’s investing in AI infrastructure. It’s investing in the tokens. It’s investing in the people who are truly AI native, and able to 10x themselves.”