SYDNEY, March 5, 2026, 17:52 AEDT
- WiseTech Global shares surged and closed higher, leading gains among Australian tech names.
- The ASX 200 ended higher as investors rotated back into growth stocks.
- The rally comes days after WiseTech outlined an AI-driven restructuring that includes about 2,000 job cuts.
WiseTech Global Ltd (WTC.AX) jumped 7.1% on Thursday to close at A$47.57. The logistics software maker traded between A$45.05 and A$47.71 on volume of about 2.11 million shares, while the S&P/ASX 200 rose 0.44%. 1
The move keeps WiseTech’s share price in focus after weeks of sharp swings in Australian tech. Investors have been quick to punish anything that looks like slower growth, then just as quick to buy back in when the market mood shifts.
Tech stocks were broadly higher in early trade, with gains also seen in local software names such as Xero and Technology One, MarketIndex data showed. 2
WiseTech sells CargoWise, software used by freight forwarders and logistics operators to manage shipments and related processes. It has a large global customer base and its results can move sentiment on the whole sector.
Late last month, WiseTech said it would cut about 2,000 jobs — around 29% of its workforce — as it rolls out artificial intelligence across customer software and internal operations. Chief executive Zubin Appoo said “the era of manually writing code as the core act of engineering is over,” while Global X ETFs strategist Marc Jocum said the recent weakness was “more governance-driven than fundamental.” Shares closed up 11.1% on the day of that update but were still 68% below a November 2024 peak, after governance concerns weighed on the stock. 3
But the AI pivot comes with friction. Professionals Australia, a union representing tech and engineering workers, has sought urgent talks and said WiseTech must consult staff and the union before major workplace changes; director Paul Inglis called the rollout “clearly a major workplace change.” 4
Execution is the point now. If automation speeds up product work but customer support stumbles, the savings story changes fast, and clients can get noisy.
Some investors argue WiseTech’s grip on freight software still gives it room to absorb disruption. Emanuel Datt, chief investment officer at Datt Capital, wrote the company looks like “a mission-critical utility” to customers, with potential for stronger cash generation if the shift sticks. 5
For traders, the next test is whether Thursday’s bounce holds when the next round of detail lands on how the cuts roll out and how AI tools are embedded in delivery. Any sign the overhaul slows customer wins, or dents service levels, would likely hit the stock just as quickly as it lifted.
