A wave of ruthless layoffs is sweeping across the globe as artificial intelligence advances rapidly. An Australian software company has declared "the era of humans writing code is over" and announced plans to cut approximately 30% of its workforce—the largest AI-related restructuring in Australian history.
According to Reuters on the 24th (local time), Australian logistics software firm WiseTech Global announced it will reduce its workforce by approximately 2,000 employees over the next two years. WiseTech currently employs about 7,000 workers across 40 countries, making the cuts equivalent to 29% of its staff. The restructuring will begin with product development and customer service divisions.
WiseTech's stock surged 10.7% in early trading after the company reported first-half results that exceeded expectations. Despite the strong performance, AI is driving the massive layoffs. CEO Jubin Apu said, "Software development is experiencing its biggest transformation in decades. The era when writing code by hand was the core act of engineering is over." WiseTech plans to implement AI across its customer-facing software and internal operations.
Analysts also point to the company's stock price, which remains approximately 32% below its 2024 peak following investor exodus over controversies surrounding the founder's personal life, as another factor behind the aggressive restructuring.
Reuters noted that "this layoff demonstrates how rapidly AI is reshaping the human role in workplaces worldwide."
Grim predictions that AI would threaten human jobs are increasingly becoming reality. Last month, Amazon announced it would cut 16,000 workers globally—its second round of layoffs in three months.
A recent report from U.S. macroeconomic research firm Citrini Research has sparked concern. In its report titled "The 2028 Global Intelligence Crisis," Citrini Research presented a bleak outlook suggesting AI could destroy the middle class and even collapse the U.S. mortgage market. The firm warned that while corporations save on wages and reap massive profits, and nominal GDP and productivity soar, money failing to flow into the real economy could bring down the global economy.
"2028 hasn't arrived yet and stock markets are at all-time highs. Some of these scenarios may not materialize," Citrini Research stated. "But one thing is certain: the premium on human intelligence will shrink. Both investors and society must write new rules for this economy right now if they want to survive."