WiseTech Global Announces Job Cuts Amid AI-Driven Efficiency Push
2 Sources
2 Sources
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Australia's WiseTech to cut some jobs in AI-driven efficiency push
July 23 (Reuters) - Australia's WiseTech Global (WTC.AX), opens new tab confirmed on Wednesday it was cutting some roles as part of a workforce review to focus on "maximizing efficiency via automation and use of artificial intelligence". The software firm did not specify the number of jobs to be impacted in an emailed response to a Reuters query. The Australian Financial Review reported earlier, opens new tab in the day that the Sydney-headquartered logistics software provider has told employees it is increasing the use of AI across the business as part of a broad restructure, citing an email from WiseTech's chief of staff, Zubin Appoo. WiseTech, known for its flagship CargoWise platform, has a team of around 3,500 people across 38 countries, as of June 30, 2024, according to its 2024 annual report. A spokesperson said the firm is "supporting all impacted team members through this transition, including access to professional outplacement services." Wisetech's move mirrors broader industry trends, with technology companies worldwide reducing headcount to fund heavy investments in AI infrastructure. Earlier this month, Microsoft (MSFT.O), opens new tab announced plans to lay off nearly 4% of its workforce, while big tech peers including Amazon (AMZN.O), opens new tab, Facebook parent Meta (META.O), opens new tab and Alphabet's (GOOGL.O), opens new tab Google have all trimmed their labour forces in recent years. Reporting by Shivangi Lahiri in Bengaluru; Editing by Rashmi Aich Our Standards: The Thomson Reuters Trust Principles., opens new tab
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Australia's WiseTech to cut some jobs in AI-driven efficiency push - The Economic Times
WiseTech, known for its flagship CargoWise platform, has a team of around 3,500 people across 38 countries, as of June 30, 2024, according to its 2024 annual report. The software firm did not specify the number of jobs to be impacted.Australia's WiseTech Global confirmed on Wednesday it was cutting some roles as part of a workforce review to focus on "maximizing efficiency via automation and use of artificial intelligence". The software firm did not specify the number of jobs to be impacted in an emailed response to a Reuters query. The Australian Financial Review reported earlier in the day that the Sydney-headquartered logistics software provider has told employees it is increasing the use of AI across the business as part of a broad restructure, citing an email from WiseTech's chief of staff, Zubin Appoo. WiseTech, known for its flagship CargoWise platform, has a team of around 3,500 people across 38 countries, as of June 30, 2024, according to its 2024 annual report. A spokesperson said the firm is "supporting all impacted team members through this transition, including access to professional outplacement services." Wisetech's move mirrors broader industry trends, with technology companies worldwide reducing headcount to fund heavy investments in AI infrastructure. Earlier this month, Microsoft announced plans to lay off nearly 4% of its workforce, while big tech peers including Amazon, Facebook parent Meta and Alphabet's Google have all trimmed their labour forces in recent years.
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Australian software firm WiseTech Global confirms job cuts as part of a workforce review focused on maximizing efficiency through automation and AI, reflecting a broader trend in the tech industry.
WiseTech Global Announces AI-Driven Restructuring
Australian software firm WiseTech Global has confirmed it is cutting jobs as part of a strategic workforce review aimed at "maximizing efficiency via automation and use of artificial intelligence" 1. The Sydney-headquartered company, known for its flagship CargoWise logistics platform, is implementing these changes as part of a broader restructuring effort that involves increasing the use of AI across its business operations 2.
Source: Reuters
Job Cuts and AI Integration
While WiseTech Global has not specified the exact number of positions to be eliminated, the company has stated that it is "supporting all impacted team members through this transition, including access to professional outplacement services" 1. This move comes as the company, which employs approximately 3,500 people across 38 countries as of June 30, 2024, seeks to streamline its operations and leverage AI technologies 2.
Industry-Wide Trend
WiseTech's decision to reduce its workforce while investing in AI infrastructure mirrors a broader trend in the technology sector. Many companies worldwide are making similar moves to reallocate resources towards AI development and implementation 1. This shift reflects the growing importance of AI in driving efficiency and innovation across various industries.
Tech Giants Leading the Way
The restructuring at WiseTech Global follows similar actions by major tech companies. Earlier this month, Microsoft announced plans to lay off nearly 4% of its workforce 1. Other industry leaders such as Amazon, Meta (formerly Facebook), and Alphabet's Google have also trimmed their labor forces in recent years, often citing the need to invest in emerging technologies like AI 12.
Implications for the Tech Workforce
As companies increasingly turn to AI and automation to enhance efficiency, the tech industry is likely to see continued workforce restructuring. This trend raises important questions about the future of work in the sector and the skills that will be in demand as AI becomes more prevalent in business operations.
WiseTech's Future Direction
The restructuring at WiseTech Global, as communicated by the company's chief of staff Zubin Appoo, indicates a strategic pivot towards greater AI integration 2. This move suggests that the company is positioning itself to remain competitive in an increasingly AI-driven market, particularly in the logistics and supply chain management sector where its CargoWise platform operates.
As the tech industry continues to evolve, companies like WiseTech Global are likely to face both challenges and opportunities in balancing workforce needs with technological advancements. The outcome of such restructuring efforts will be closely watched by industry observers and could set precedents for how tech firms navigate the AI revolution.
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