WiseTech Global, a maker of supply chain management software, plans to eliminate 2,000 jobs, or a third of its global workforce, in a two-year restructuring built around artificial intelligence.
The Australian company announced the layoffs during an earnings call Wednesday. WiseTech produces trade logistics and supply chain management software, with some estimates that the company’s CargoWise software platforms handle as much as 75% of global customs transaction data.
Restructuring Details
The restructuring will affect approximately 29% of its 7,000 employees in 40 countries as WiseTech integrates AI into customer software and internal operations.
Reports said job cuts could total as much as 50% at E2open, WiseTech’s U.S. cloud computing division.
Stock Price Pressure
WiseTech shares are 68% below their November 2024 peak amid an investor exodus following allegations of wrongdoing by a former CEO.
The restructuring is a significant move by WiseTech to regain investor confidence, with the company hoping to improve operational efficiency and reduce costs through AI integration.
Industry Impact
WiseTech’s restructuring reflects a major transformation in the supply chain software industry amid the AI wave. As generative AI technology matures, more enterprise software companies are reassessing their workforce structures, automating repetitive work while investing in AI capabilities.
The layoffs also highlight the disruptive impact of AI on the traditional software industry—even market leaders handling 75% of global customs transaction data need大规模 restructuring to adapt to the new technology paradigm.
