The parent company of Afterpay and Square has announced it has culled 4000 jobs from its workforce around the world, potentially impacting hundreds of Australia

Block, a US-based company that also runs platforms such as Square and Cash App, made the announcement via their co-founder Jack Dorsey this morning, who claimed the changing role of AI in the industry and not financial struggles were the key motivator.

"We're not making this decision because we're in trouble," he said in a letter to staff, which was also shared on X.

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