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WiseTech AI Overhaul Cuts 2000 Jobs, Shares Jump 11%

Yahoo Tech •
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WiseTech Global CEO Zubin Appoo announced plans to eliminate 2,000 roles as artificial intelligence transforms operations, representing nearly 30% of the company's 7,000-person workforce. The freight-software provider's shares surged 11% in Sydney trading after Appoo detailed how AI will reshape everything from coding to customer service.

Appoo said projects that once took months can now be completed in a day, with global customs capabilities deployed six to seven times faster. The company's cost base will be stripped bare as AI unlocks "levels of efficiency gains previously out of reach." Product development, customer service, and US-based E2open operations face the deepest cuts.

WiseTech's bold move stands out even as tech giants pour billions into AI. The company projects AI will drive productivity across all functions, though Appoo couldn't specify exact percentages. While AI threatens traditional software models, Appoo argues WiseTech's central role in global trade makes it irreplaceable. The cuts come as the company reports 76% revenue growth to A$672 million, including contributions from its E2open acquisition.