Latest news with #WiseTechGlobal
CNA
2 days ago
- Business
- CNA
Australia's WiseTech to cut some jobs in AI-driven efficiency push
Australia's WiseTech Global confirmed on Wednesday it was cutting some roles as part of a workforce review to focus on "maximizing efficiency via automation and use of artificial intelligence". The software firm did not specify the number of jobs to be impacted in an emailed response to a Reuters query. The Australian Financial Review reported earlier in the day that the Sydney-headquartered logistics software provider has told employees it is increasing the use of AI across the business as part of a broad restructure, citing an email from WiseTech's chief of staff, Zubin Appoo. WiseTech, known for its flagship CargoWise platform, has a team of around 3,500 people across 38 countries, as of June 30, 2024, according to its 2024 annual report. A spokesperson said the firm is "supporting all impacted team members through this transition, including access to professional outplacement services." Wisetech's move mirrors broader industry trends, with technology companies worldwide reducing headcount to fund heavy investments in AI infrastructure. Earlier this month, Microsoft announced plans to lay off nearly 4 per cent of its workforce, while big tech peers including Amazon, Facebook parent Meta and Alphabet's Google have all trimmed their labour forces in recent years.
Reuters
2 days ago
- Business
- Reuters
Australia's WiseTech to cut some jobs in AI-driven efficiency push
July 23 (Reuters) - Australia's WiseTech Global ( opens new tab confirmed on Wednesday it was cutting some roles as part of a workforce review to focus on "maximizing efficiency via automation and use of artificial intelligence". The software firm did not specify the number of jobs to be impacted in an emailed response to a Reuters query. The Australian Financial Review reported earlier, opens new tab in the day that the Sydney-headquartered logistics software provider has told employees it is increasing the use of AI across the business as part of a broad restructure, citing an email from WiseTech's chief of staff, Zubin Appoo. WiseTech, known for its flagship CargoWise platform, has a team of around 3,500 people across 38 countries, as of June 30, 2024, according to its 2024 annual report. A spokesperson said the firm is "supporting all impacted team members through this transition, including access to professional outplacement services." Wisetech's move mirrors broader industry trends, with technology companies worldwide reducing headcount to fund heavy investments in AI infrastructure. Earlier this month, Microsoft (MSFT.O), opens new tab announced plans to lay off nearly 4% of its workforce, while big tech peers including Amazon (AMZN.O), opens new tab, Facebook parent Meta (META.O), opens new tab and Alphabet's (GOOGL.O), opens new tab Google have all trimmed their labour forces in recent years.
Time of India
2 days ago
- Business
- Time of India
Australia's WiseTech to cut some jobs in AI-driven efficiency push
Academy Empower your mind, elevate your skills Australia's WiseTech Global confirmed on Wednesday it was cutting some roles as part of a workforce review to focus on "maximizing efficiency via automation and use of artificial intelligence".The software firm did not specify the number of jobs to be impacted in an emailed response to a Reuters Australian Financial Review reported earlier in the day that the Sydney-headquartered logistics software provider has told employees it is increasing the use of AI across the business as part of a broad restructure, citing an email from WiseTech's chief of staff, Zubin known for its flagship CargoWise platform , has a team of around 3,500 people across 38 countries, as of June 30, 2024, according to its 2024 annual report.A spokesperson said the firm is "supporting all impacted team members through this transition, including access to professional outplacement services."Wisetech's move mirrors broader industry trends, with technology companies worldwide reducing headcount to fund heavy investments in AI this month, Microsoft announced plans to lay off nearly 4% of its workforce, while big tech peers including Amazon, Facebook parent Meta and Alphabet's Google have all trimmed their labour forces in recent years.
AU Financial Review
3 days ago
- Business
- AU Financial Review
WiseTech flags redundancies as it restructures to double down on AI
WiseTech Global has told employees that it is increasing the use of artificial intelligence across the business as part of a broad restructure of the ASX-listed logistics software giant that will result in redundancies. In a note on Tuesday, WiseTech's acting chief executive Andrew Cartledge said the company had made the decision after 'a deep assessment of our operating model, teams, roles, skills and processes'.
Yahoo
5 days ago
- Business
- Yahoo
High Growth Tech Stocks in Australia Featuring Life360 and Two Others
The Australian market is experiencing a bullish trend, with the ASX reaching new all-time highs, driven by positive sentiment from Wall Street and expectations of potential rate cuts by the Reserve Bank of Australia in response to rising unemployment. In this environment, high-growth tech stocks like Life360 are garnering attention for their potential to capitalize on favorable economic conditions and investor optimism. Top 10 High Growth Tech Companies In Australia Name Revenue Growth Earnings Growth Growth Rating Pro Medicus 20.17% 22.26% ★★★★★★ Gratifii 42.14% 113.99% ★★★★★★ Echo IQ 49.20% 51.35% ★★★★★★ WiseTech Global 20.46% 23.23% ★★★★★★ BlinkLab 51.57% 52.67% ★★★★★★ Wrkr 55.92% 116.30% ★★★★★★ Pointerra 50.42% 159.12% ★★★★★☆ Immutep 70.84% 42.55% ★★★★★☆ Adveritas 52.34% 88.83% ★★★★★★ SiteMinder 18.77% 55.55% ★★★★★☆ Click here to see the full list of 45 stocks from our ASX High Growth Tech and AI Stocks screener. We'll examine a selection from our screener results. Life360 Simply Wall St Growth Rating: ★★★★★☆ Overview: Life360, Inc. operates a technology platform that provides location services for people, pets, and things across various regions globally, with a market capitalization of A$8.63 billion. Operations: The company generates revenue primarily from its software and programming segment, amounting to $396.88 million. Its technology platform is utilized across North America, Europe, the Middle East, Africa, and other international markets. Despite recent volatility, including its drop from several Russell indexes, Life360 has shown resilience and strategic foresight in the high-growth tech sector. The company's revenue is expected to grow by 16.1% annually, outpacing the Australian market's 5.5%, while earnings are forecasted to surge by an impressive 40.6% per year. This growth trajectory is supported by innovative advertising solutions like Place Ads and Uplift by Life360, which leverage real-world behavior to deliver targeted ads, evidenced by their partnership with Uber that generated over 100,000 rides from airport travelers alone. With $308.9 million raised from a convertible notes offering aimed at funding acquisitions and strategic investments, Life360 is poised to expand its technological footprint and enhance shareholder value through smart capital allocation. Take a closer look at Life360's potential here in our health report. Gain insights into Life360's historical performance by reviewing our past performance report. Codan Simply Wall St Growth Rating: ★★★★☆☆ Overview: Codan Limited specializes in creating technology solutions for various clients, including United Nations organizations, security and military groups, government departments, individuals, and small-scale miners, with a market capitalization of A$3.67 billion. Operations: Codan Limited generates revenue primarily from its Communications and Metal Detection segments, with A$360.27 million and A$224.90 million respectively. The company focuses on providing technology solutions to a diverse range of clients, including governmental and military entities, as well as individuals in niche markets. With a robust 19.4% increase in earnings over the past year, Codan has outperformed the Electronic industry's growth of 8.9%, showcasing its competitive edge in a challenging market. The company's revenue is expected to rise by 10.8% annually, surpassing the broader Australian market's growth rate of 5.6%. This financial vitality is underpinned by Codan's commitment to innovation, as evidenced by its R&D expenses that strategically fuel advancements and efficiency in its operations. Looking ahead, while earnings are projected to grow at a steady rate of 15.76% per year, it's clear that Codan is not just keeping pace but setting the pace in its sector through strategic investments and a keen focus on sustainable growth. Click to explore a detailed breakdown of our findings in Codan's health report. Explore historical data to track Codan's performance over time in our Past section. Xero Simply Wall St Growth Rating: ★★★★☆☆ Overview: Xero Limited offers online business solutions tailored for small businesses and their advisors across Australia, New Zealand, the United Kingdom, North America, and other international markets, with a market capitalization of approximately A$29.80 billion. Operations: The company generates revenue primarily from providing online solutions for small businesses and their advisors, amounting to NZ$2.10 billion. Its operations span Australia, New Zealand, the United Kingdom, North America, and other international markets. Xero's recent performance and strategic initiatives position it as a dynamic entity in the tech landscape, particularly within the software industry where it has outpaced its peers with a 30.4% earnings growth over the past year. This growth is significantly higher than the industry average of 5.6%. The company's commitment to innovation is evident from its R&D spending, which has been crucial in maintaining this momentum; however, specific figures were not disclosed. Additionally, Xero recently enhanced its platform through partnerships and integrations, such as with BILL for streamlined bill payments in the U.S., reflecting a proactive approach to addressing client needs and improving cash flow management for small businesses. These moves not only enhance Xero's service offering but also solidify its standing in competitive markets by adapting to evolving business environments. Click here to discover the nuances of Xero with our detailed analytical health report. Understand Xero's track record by examining our Past report. Next Steps Embark on your investment journey to our 45 ASX High Growth Tech and AI Stocks selection here. Already own these companies? Link your portfolio to Simply Wall St and get alerts on any new warning signs to your stocks. Simply Wall St is a revolutionary app designed for long-term stock investors, it's free and covers every market in the world. Ready For A Different Approach? Explore high-performing small cap companies that haven't yet garnered significant analyst attention. Fuel your portfolio with companies showing strong growth potential, backed by optimistic outlooks both from analysts and management. Find companies with promising cash flow potential yet trading below their fair value. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include ASX:360 ASX:CDA and ASX:XRO. Have feedback on this article? Concerned about the content? with us directly. Alternatively, email editorial-team@
