Software manufacturer WiseTech Global Ltd. plans to lay off approximately 2,000 employees, nearly 30% of its total workforce, as part of an AI-driven business restructuring. This marks Australia's largest and most impactful layoff event attributed to artificial intelligence to date. CEO Zubin Apu stated that embracing AI will enhance efficiency, streamline cost structures, and reshape business models, with some departments seeing up to half of their workforce reduced. During early trading on Wednesday local time, WiseTech's stock price surged by 11%, following a previous plunge amid market concerns that AI would devalue freight software. Globally, companies are increasingly citing AI as a reason for layoffs and hiring freezes, with software developers facing particularly severe impacts. WiseTech's layoffs will be implemented gradually over the current and next fiscal years, with employees in product development and customer service departments being the first to be affected, followed by additional job cuts targeting other roles next year. For the six months ending December 31, 2024, the company reported a 2% increase in underlying net profit and a significant 76% rise in total revenue. The company had previously been mired in allegations of turmoil, with Apu appointed as CEO in July last year in response to investor concerns over corporate governance.