WiseTech Global Cuts 2,000 Jobs for AI Pivot

WiseTech Global, an Australian logistics technology company, announced plans to cut approximately 2,000 jobs, nearly a third of its global workforce, over the next two years. This restructuring is a strategic pivot towards artificial intelligence, aiming to integrate AI into its software platforms and internal operations. CEO Zubin Appoo stated that 'the era of manually writing code as the core act of engineering is over,' emphasizing the significant shift in software development. The layoffs will primarily affect product and development, and customer service roles, including those within its U.S. cloud computing arm, E2open. Despite the job cuts, WiseTech Global reported a 76% increase in first-half revenue to $US672 million and a 2% rise in underlying net profit to $US112.1 million. The company's shares rebounded significantly after the announcement, despite previous declines due to governance concerns surrounding co-founder Richard White and an ongoing probe by the Australia===Australian Securities and Investments Commission.