WiseTech Global plans to reduce its workforce by up to 2000 employees over the next two years as it increases its focus on artificial intelligence-driven products and features. The tech company anticipates cutting up to 50 per cent of staff in some teams, starting with product and development and customer service, including the recently acquired e2open. WiseTech Global is a software company that provides solutions for the logistics industry. It aims to improve supply chain efficiency through its software platform.
Chief executive Zubin Appoo stated that the company sees a significant shift in software development, driven by AI. “The era of manually writing code as the core act of engineering is over,” he said. Appoo further explained that AI enhances the company’s capabilities in logistics and trade, leveraging its datasets and network to accelerate the delivery of customer value through more efficient software development and product creation.
The job cuts were announced alongside WiseTech’s interim results on Wednesday. Revenue saw a substantial increase of 76 per cent, reaching $US672 million ($952 million), which included five months of revenue from e2open, acquired for $3.2 billion last year. Despite the revenue growth, WiseTech’s net profit experienced a decline of 36 per cent, falling to $US68.1 million from $106.4 million in the same period a year earlier. However, underlying profit, excluding the impact of the e2open acquisition, rose by 2 per cent to $US114.5 million.
