# WiseTech Global workforce and market volatility > Live situation record from CLSTR: https://clstr.news/situations/wisetech-global-workforce-and-market-volatility > Updated: 2026-09-02T23:29:26.000Z. Sources: 7. Developments: 2. WiseTech Global has undergone significant structural and financial shifts. The company initially announced plans to cut approximately 2,000 jobs—roughly 30% of its workforce—to implement an artificial intelligence-driven productivity strategy. CEO Zubin Appoo noted that AI integration has allowed smaller, AI-equipped teams to deliver projects faster, contributing $34 million in savings. During this period, the company reported a 76% to 79% surge in annual revenue to $US1.4 billion, supported by the acquisition of E2open. Following these developments, WiseTech Global’s stock experienced a significant decline, falling more than 60% from its 52-week high. This downturn is part of a broader decline in ASX technology stocks, such as Xero Ltd, driven by rising bond yields. In addition to market pressures, WiseTech faces projected single-digit revenue growth for FY27 and an ongoing investigation by the ACCC. ## Timeline ### 2026-09-02: ASX tech stocks Xero and WiseTech Global face significant declines ASX technology stocks, including Xero and WiseTech Global, have faced significant sell-offs driven by rising bond yields and macroeconomic pressures despite varying levels of revenue growth. 2 sources. https://clstr.news/cluster/asx-tech-stocks-xero-and-wisetech-global-face-significant-declines ### 2026-08-26: WiseTech Global cuts 2,000 jobs to drive AI productivity Australian logistics software firm WiseTech Global is cutting approximately 2,000 jobs to prioritize AI-driven productivity, even as annual revenue surges to $US1.4 billion following its E2open acquisition. 5 sources. https://clstr.news/cluster/wisetech-global-cuts-2000-jobs-to-drive-ai-productivity --- Cite as: WiseTech Global workforce and market volatility. CLSTR, https://clstr.news/situations/wisetech-global-workforce-and-market-volatility