Good Evening!
We might have just seen the largest layoffs in tech as a direct result of AI replacing jobs. Will more follow suit?
Here are the 7 things you missed today:
1. ✂️ Blocks Is Cutting 40% of Staff (Because of AI)
Jack Dorsey is really betting big on AI. So much so, the tech CEO announced his company Block (formerly Square) is cutting 40% of its workforce – from over 10,000 people to just under 6,000 – despite strong, growing profits. The reason? To fully & immediately commit to AI tools paired with smaller and flatter teams. (Jack Dorsey)
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3. 🍌 Google Launched Nano Banana 2
Google rolled out Nano Banana 2 today, an update to its popular AI image generator. According to the tech giant, the new edition to the viral service has faster speed and advanced world knowledge, pulling real-time information from Gemini for more accurate renderings. (CNBC)
4.
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5. 🪲 Hackers Have Been Exploiting a Cisco Bug For 3+ Years
Well, that’s a shame. Workplace networking software provider Cisco said hackers have been exploiting a bug in one of its popular Catalyst SD-WAN products used by large enterprises for at least three years. The bug allows hackers to gain the highest level of permissions to these devices, allowing them to spy or steal data over a long period of time. (TechCrunch)
6. 🤝 Mistral AI Inked a Multiyear Partnership With Accenture
French AI research lab Mistral AI and global consulting giant Accenture announced a multiyear partnership allowing the two companies to work together to develop enterprise tech powered by Mistral’s AI models for clients. Financial terms and the duration of the deal weren’t disclosed, but the deal also includes Accenture becoming a Mistral customer. (TechCrunch)
7. 💼 EBay is Laying Off 6% of its Workforce
Blocks isn’t the only tech company with layoffs today. Ecommerce marketplace EBay is cutting about 800 roles, or 6% of its workforce, following the announcement of its acquisition of resale app Depop. Job cuts are spread across the company and the decision was reportedly made on operating model needs and areas of duplication. (CNBC)
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