•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
Dan Schulman, the former CEO of PayPal, said in an interview with The Wall Street Journal (WSJ) published Sunday (April 19) that companies are facing a difficult period and that leaders should be “authentic, realistic” and “telling the truth, as best you can.”
Schulman’s comments come as the telecom launched a $20 million career-transition and retraining fund for the “age of AI” when it began cutting 13,000 jobs last year. He previously told workers that “change is necessary, but it can be difficult.”
The WSJ characterized Schulman’s warnings as a departure from how chief executives at other public companies have discussed AI—typically emphasizing its potential while being more reluctant to talk about job cuts.
As an example, the report cited Amazon CEO Andy Jassy, who told CNBC in February that while some roles will be replaced, “there will be other jobs created.”
The WSJ also noted that several companies have referenced AI as they initiated broad layoffs. Block, for instance, cut close to half its staff earlier this year and predicted other firms would follow a similar path.
The WSJ cited a Boston Consulting Group report predicting that AI will reshape around half of U.S. jobs over the next two to three years, with 15% ultimately being eliminated.
The report further described Schulman recommending that staff use AI tools to write an obituary to see how the technology might describe their lives, or to write poems for loved ones.
In the interview, Schulman said, “Like it or not, we live in the age of AI. I happen to like it.” He compared the moment to earlier technological shifts, saying it is “like we all wanted to live in the Renaissance” or “when fire was first invented,” adding that “We’re in that stage. We’re just not appreciating it for what it could be.”
Writing about AI-related job loss risks after Block’s layoffs, PYMNTS argued that the changes resemble patterns from earlier computing cycles.
PYMNTS said that the introduction of personal computers reduced demand for some clerical roles while boosting growth in IT services, software development and digital marketing. It added that the internet reshaped retail and media while creating new sectors in eCommerce and cloud infrastructure.
According to PYMNTS, AI is now accelerating that restructuring, particularly in industries like FinTech, where large portions of work involve data, transactions and risk analysis.
Premium gym chains are entering a “golden era” that is ending or already in decline, as rising operating costs collide with shifting consumer preferences toward more flexible, community-based ways to exercise. Long-term memberships are shrinking, margins are pressured by higher rents and facility expenses, and competition from smaller, more personalized…
