Episode Details
Back to EpisodesBlock Cut 40% of Staff. Meta & JPMorgan Show Why More May Be Next? Ep42
Description
The world's biggest banks and tech companies are mandating AI adoption across their workforces. JPMorgan, Goldman Sachs, BNY Mellon and Meta are all reporting hard numbers. And Block just showed us what can happen next — 40% of the workforce gone, dressed up as an AI transformation.
This episode covers the stories that aren't making the mainstream AI headlines. Real companies. Real outcomes. Real numbers.
In this episode:
00:00 AI Layoffs Wave — setting the scene
01:39 Block ⚡ — Jack Dorsey cuts 40% of staff and calls it AI. But is it AI-washing?
04:37 AI Washing and Worker Reality
07:02 📉 US, UK & Eurozone jobs reports — growth and jobs are starting to decouple
07:56 JPMorgan Chase 📊 — 6% more accounts per employee, fraud costs down 11%
12:45 BNY Mellon 🏦 — $550 million in savings, every single employee now on AI
18:14 Goldman Sachs 🤖 — AI software engineer deployed across 12,000 developers
21:37 Meta 📋 — first major company to tie performance reviews directly to AI usage
25:07 IRS 🏛️ — tax court case time cut from 10 days to 30 minutes
27:20 What It Means for 2026
Website:
🎓 Ben Drakes University: bendrakes.com
🐦 Follow Ben on X: https://x.com/ben_drakes
💼 Connect with Ben on LinkedIn: https://www.linkedin.com/in/ben-drakes/
SOURCES:
Block / Guardian: https://www.theguardian.com
JPMorgan Chase: https://www.crowdfundinsider.com/2026/02/264113-jamie-dimon-says-ai-is-actively-transforming-jpmorgan-chases-workforce/
BNY Mellon Earnings: https://www.fool.com/earnings/call-transcripts/2026/01/15/bny-mellon-bk-q4-2025-earnings-call-transcript/
BNY Mellon CNBC: https://www.cnbc.com/2026/02/09/digital-employees-ai-bootcamps-americas-oldest-bank-spends-billions-on-tech.html
Goldman Sachs / Devin: https://www.financialcontent.com
Meta: https://bloomberg.com
IRS: https://diginomica.com
Jack Dorsey Wired Interview: https://www.wired.com/story/jack-dorsey-explains-block-layoffs/
US Jobs Report: https://www.bls.gov/news.release/empsit.nr0.htm
UK Jobs Report: https://www.ons.gov.uk/employmentandlabourmarket/peopleinwork/employmentandemployeetypes/bulletins/uklabourmarket/february2026
Eurozone Jobs Report: https://ec.europa.eu/eurostat/web/products-euro-indicators/w/3-04032026-ap
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