Block is the latest business to announce layoffs, with the operator of payment platforms Square and Cash App opting to cut jobs in favor of using more AI tools. The financial tech company, helmed by Twitter founder Jack Dorsey, is slashing its current staff of 10,000 to "just under 6,000." CNBC highlighted a letter Block sent to shareholders announcing the decision to nearly halve its workforce. According to the message from Dorsey:
"It can be a couple of months but it can also be a couple of years," he said. "If the jobs are really lost due to outsourcing or AI, then unless we find in a couple of years actually we still need those people and replacing them didn't work, then those jobs are gone."
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The ghost of Vector lives on. Tucson, Arizona-based satellite and rocket developer Phantom Space, co-founded by Jim Cantrell in 2019, has acquired the remnants of Vector Launch, Space News reports. The announcement is notable because Cantrell left Vector as its finances deteriorated in 2019. Cantrell said some of the assets, comprising flight-proven design elements, engineering data, and other technology originally developed for Vector, will be immediately integrated into Phantom’s Daytona vehicle architecture to reduce development risk.
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