AI Disruption Prompts Australia's WiseTech to Cut a Third of Global Workforce

AI Disruption Sparks Mass Layoffs at WiseTech

WiseTech, an Australian technology company, has announced plans to cut a third of its global workforce in response to the disruption caused by artificial intelligence (AI).

The company, which provides logistics and supply chain management software, has been impacted by the rapid advancements in AI technology. As a result, WiseTech has decided to reduce its workforce to adapt to the changing market conditions.

The layoffs are expected to affect around 1,000 employees worldwide, with the majority being based in Australia. The company has not disclosed the exact number of employees who will be affected.

WiseTech's decision to cut its workforce comes as the company faces increased competition from AI-powered logistics and supply chain management solutions. The company's software has been used by various industries, including transportation and warehousing.

The layoffs are a significant blow to the Australian economy, which has been experiencing a slowdown in recent months. The country's unemployment rate has been rising, and the government has been implementing various measures to stimulate economic growth.

The impact of AI on the workforce has been a topic of concern for many industries, with some experts predicting that up to 40% of jobs could be automated in the next decade. WiseTech's decision to cut its workforce highlights the need for companies to adapt to the changing market conditions and invest in AI-powered solutions.

Sources

[2] AI disruption prompts Australia’s WiseTech to cut a third of global workforce