Freightwaves: WiseTech Global cutting 30% of workforce in AI restructure

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 (WTC.AX) 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 as much as 75% of global customs transaction data.

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.

WiseTech shares are 68% ​below their November 2024 peak amid an investor exodus following allegations of wrongdoing by a former CEO.