Fintech company Block announced that it would be laying off 4,000 of its 10,000 employees because of gains in AI productivity.
“At a time when native-population growth is slowing due to persistently low fertility rates, declining immigration is poised to weigh heavily on labor supply, debt sustainability, and long-term economic growth, with negative effects likely to emerge even in the near term,” researchers at the Deloitte Global Economics Research Center wrote in an analysis published Friday.
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