Balaji Srinivasan Says Block Firings Will Send 'Shockwaves,' Angel Investor Says Jack Dorsey Is Signalling Everyone — xAI Makes Moves On Talent

Benzinga14:47

On Thursday, Elon Musk's xAI began recruiting shortly after Block Inc. (NYSE:XYZ) announced it would cut nearly half its workforce in a sweeping efficiency push tied to artificial intelligence. Block ...

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(NYSE:XYZ) announced it would cut nearly half its workforce in a sweeping efficiency push tied to artificial intelligence.\nBlock ...</p>\n\n<a href=\"https://www.benzinga.com/markets/tech/26/02/50919266/balaji-srinivasan-says-block-firings-will-send-shockwaves-angel-investor-says-jack-dorsey-is-signalling-everyone-xai-makes-moves-on-talent\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU1861220207.SGD","symbol_name":"Blackrock FinTech A2 SGD-H","start_time":0,"source_url":"https://www.benzinga.com/markets/tech/26/02/50919266/balaji-srinivasan-says-block-firings-will-send-shockwaves-angel-investor-says-jack-dorsey-is-signalling-everyone-xai-makes-moves-on-talent","article_id":"2614782889","we_media_id":null,"thumbnails":["https://cdn.benzinga.com/files/images/story/2026/02/27/Block.jpeg?optimize=medium&dpr=2&auto=webp&width=260"],"rights":{"source":"benzinga_hot_news","url":"https://www.benzinga.com/markets/tech/26/02/50919266/balaji-srinivasan-says-block-firings-will-send-shockwaves-angel-investor-says-jack-dorsey-is-signalling-everyone-xai-makes-moves-on-talent","rn_cache_url":null,"directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2614782889","pubTimestamp":1772174820,"columns":[],"sourceInfo":{"source_id":"benzinga_hot_news","name":"Benzinga"},"weMediaInfo":null,"summary":"xAI began recruiting laid-off workers after Block, Inc. cut 40% of its workforce in an AI-driven restructuring led by Jack Dorsey, a move investors called a potential turning point for tech jobs even as the stock surged in after-hours trading.","collect":0,"end_time":0,"defaultTopTitle":"benzinga.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU1861220207.SGD":"Blackrock FinTech A2 SGD-H","LU2211817866.USD":"Allianz Food Security AT Acc USD","BK4227":"交易和支付处理服务","BK4598":"佩洛西持仓","BK4551":"寇图资本持仓","AIYY":"YIELDMAX AI OPTION INCOME STRATEGY ETF","BK4023":"应用软件","LU1861559042.SGD":"日兴方舟颠覆性创新基金B SGD","BK4543":"AI","XYZ":"Block, Inc.","IE00B19Z3581.USD":"Legg Mason ClearBridge - Value A Acc USD","IE00BHPRN162.USD":"BNY MELLON BLOCKCHAIN INNOVATION \"B\" (USD) ACC","LU2360107671.USD":"BGF FINTECH \"A4\" (USD) INC","LU0106831901.USD":"贝莱德世界金融基金A2","XYZG":"2倍做多XYZ ETF- Leverage Shares","AI":"C3.ai, Inc.","BK4585":"ETF&股票定投概念","LU1668664300.SGD":"Blackrock World Financials A2 SGD-H","XYZY":"XYZ期权收益策略ETF-YieldMax","IE00B19Z3B42.SGD":"Legg Mason ClearBridge - Value A Acc SGD","LU2211815571.USD":"ALLIANZ POSITIVE CHANGE \"AT\" (USD) ACC","BK4587":"ChatGPT概念","BK4528":"SaaS概念","IE0002270589.USD":"LEGG MASON CLEARBRIDGE VALUE \"A\" (USD) INC","LU1861558580.USD":"日兴方舟颠覆性创新基金B","LU1791807156.HKD":"BGF WORLD FINANCIALS \"A2\" (HKDHDG) ACC","LU1861217088.USD":"贝莱德金融科技A2","BK4588":"碎股"},"translate_title":"巴拉吉·斯里尼瓦桑(Balaji Srinivasan)表示，区块解雇将带来“冲击波”，天使投资人称杰克·多西(Jack Dorsey)正在向所有人发出信号——xAI在人才方面采取行动","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"XYZG":0.6,"AIYY":0.6,"XYZY":0.6,"XYZ":1,"AI":0.62},"content_text":"On Thursday, Elon Musk's xAI began recruiting shortly after Block Inc. (NYSE:XYZ) announced it would cut nearly half its workforce in a sweeping efficiency push tied to artificial intelligence.\nBlock said it is reducing headcount from more than 10,000 employees to just under 6,000, eliminating over 4,000 roles as part of what CEO Jack Dorsey described as a difficult but necessary restructuring.\n\"Today we shared a difficult decision with our team,\" Dorsey wrote in a letter to shareholders.\nThe company said affected employees will receive 20 weeks of pay, six months of health coverage and vested equity.\nFollowing the announcement, Gene Munster, managing partner at Deepwater Asset Management, said the move underscores how quickly AI is reshaping corporate strategy.\n\"AI's impact just hit a new gear,\" Munster said, adding that the industry remains early in the transition. \"We're in the second inning.\"\nSilicon Valley investor Balaji Srinivasan characterized the announcement as a signal moment for the tech sector.\n\"This is the first AI cut. And it will send shockwaves,\" Srinivasan wrote on X.\nHe urged workers to adopt AI tools and boost productivity, warning that companies that fail to adapt risk falling behind competitors embracing automation and agent-driven workflows.\n\"There will be overcorrection. But the fundamental technical innovation is real. And you need to either disrupt yourself or get disrupted,\" he stated.\nShortly after the announcement, a talent executive from xAI posted on X, inviting affected Block employees to apply, writing that \"X Money is hiring.\"\nMusk touted the idea of a cryptocurrency-enabled \"everything app\" tied to X Money last year, though the company has yet to provide any substantive updates or formal launch details.\nPrice Action: Shares of Block, Inc. surged 23.52% in after-hours trading to $67.36 after climbing 4.99% during the regular session, according to Benzinga Pro.\nXYZ continues to trade in a negative trend across the short, medium and long term, accompanied by a weak Momentum ranking, according to Benzinga's Edge Stock Rankings.\nDisclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.\nPhoto: Sergei Elagin via Shutterstock\nTo add Benzinga News as your preferred source on Google, click here.","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.36.2","shortVersion":"4.36.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2614782889","isCrawlerRequest":true}