Sydney, May 11, 2026, 06:01 AEST
WiseTech Global Ltd faces Monday’s Sydney open with its ASX shares sitting at A$42.27 as of May 8, having dropped 4.6% that day. Investors are sizing up the firm’s AI-driven overhaul and the risks that come with it. Shares remain a long way off the 52-week peak of A$121.31, according to market data.
Right now, WiseTech is back in the mix with top-tier ASX software stocks—investors aren’t just treating it as a logistics play anymore. On May 9, a market piece lumped WiseTech and Xero together, flagging both as tech names catching attention as investors revisit the software sector’s recent weakness, AI buzz, and the outlook for cloud-driven growth. Xero doesn’t compete in logistics, but it’s a solid ASX software comp for gauging sentiment.
Labour remains another sticking point. Nearly three months out from WiseTech’s AI-driven restructure, The Guardian reported last week that some employees still don’t know if they’re among the 2,000 jobs set to go. The resulting uncertainty has bled from HR into how investors view the company.
It’s been a turbulent stretch: WiseTech jumped 5.2% on May 5. But the next three sessions saw shares lose ground, ending May 8 at A$42.27 with roughly 1.89 million shares changing hands, StockAnalysis data show.
In fresh ASX materials for the Macquarie Australia Conference, WiseTech reported that it now counts over 22,000 logistics firms and other industry players as clients, spanning 193 countries. That group includes 23 out of the top 25 freight forwarders, plus 46 of the top 50 global third-party logistics operators. First-half fiscal 2026 revenue jumped 76%, with EBITDA up 31%—benefiting from the e2open acquisition, according to the company. WiseTech also noted it already has AI agents live in production, and said more than half its coding is now handled by AI agents.
The main idea boils down to this: AI steps in to speed up software development, testing, and deployment, all feeding directly into CargoWise—WiseTech’s flagship system for freight forwarders, customs brokers, and logistics operators. The challenge? Demonstrating that quicker delivery actually sticks as lasting revenue, rather than simply trimming staff.
Back in February, Chief Executive Zubin Appoo didn’t mince words: “The era of manually writing code as the core act of engineering is over.” Appoo pointed to a dramatic speedup, saying projects that used to drag on for half a year can now be wrapped up in a single day, and customs launches in new markets are happening up to seven times faster. Marc Jocum, senior product and investment strategist at Global X ETFs, described the recent weakness as “more governance-driven than fundamental,” in comments to Reuters. Reuters
WiseTech’s February plan will affect around 2,000 positions—nearly 29% of its global headcount of 7,000 spread across 40 countries. Initial cuts are set to hit product and development along with customer service roles. Some areas of e2open might see staff trimmed by as much as 50%.
Professionals Australia, the union for tech and engineering staff, is pushing for immediate discussions with WiseTech. Paul Inglis, the group’s director, describes the company’s AI push as a “major workplace change” and insists consultation must cover specifics—how the new tech will operate, what it means for jobs, and what options like retraining or redeployment are on the table. Reuters
Competition concerns haven’t faded. Australia’s competition watchdog required WiseTech to offload Expedient—a logistics software operation it picked up via e2open—after the regulator determined Expedient had competed with CargoWise in both Australia and New Zealand. ACCC Chair Gina Cass-Gottlieb said WiseTech wrapped up the purchase before the regulator finished its review, even though issues had already been flagged.
Still, there’s a catch. While AI could speed up coding, that alone won’t resolve staff consultation, e2open integration, regulatory hurdles, or potential pushback from customers on pricing and workflow shifts. If product improvements lag behind the cost savings, investors might just see the overhaul as another round of cuts dressed up in new tech lingo.
At this stage, WiseTech’s AI ambitions aren’t in doubt—the company’s already pushed that point. What matters for ASX:WTC now is whether it can turn the AI reset into renewed investor confidence, before attention swings back to job cuts, governance issues, and the cost of growth.
