WiseTech Global, the Australian logistics software company behind the widely-used CargoWise platform, has started executing one of the largest AI-driven workforce reductions in the enterprise software sector. The company is eliminating roughly 2,000 positions, nearly 30% of its 7,000-person global workforce spread across 40 countries.
The stock market loved it. WiseTech shares (ASX: WTC) jumped 11.1% on the day the restructuring was announced in February. Nothing says “shareholder value” quite like telling 2,000 people their jobs are being handed to machines.
What WiseTech is actually doing
CEO Zubin Appoo framed the cuts in stark terms.
“The era of manually writing code as the core act of engineering is over.”
