Explore the latest developments concerning WiseTech’s Richard White’s.
WiseTech’s Richard White’s boardroom world records
The WiseTech board’s audit and risk chair position has become something of a character study.
Widely-read Bell Potter broker Richard Coppleson confidently predicted in his newsletter this week that Richard White’s WiseTech was ready to rip.
Coppo, who is “a very long term shareholder”, said Wednesday’s results announcement was “a huge one” and “the share price move will be huge” and “I’m backing a 20+ per cent surge”.
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‘Can never say we’re done’: WiseTech signals more AI job losses are coming
WiseTech Global will cut more jobs as artificial intelligence takes over more of its work, chief executive Zubin Appoo has flagged, and he says the cuts will not stop when the current program ends.
“We can never say that we’re done,” Appoo said on Wednesday, hours after the embattled logistics software company posted an 11 per cent fall in annual profit and its shares dropped more than 7 per cent.
About 1200 of the 2000 roles announced in February have gone. Appoo said most of the rest would come from exiting large parts of the professional services arm of e2open, the US company WiseTech bought last year for $US3.2 billion, and shifting that work to partner firms.
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Local tech company defends AI job cuts as revenue soars
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An Australian technology company has stood behind cutting 1700 jobs in favour of artificial intelligence, as it raked in record annual revenue.
Logistics software provider WiseTech Global's total income surged 79 per cent to $US1.4 billion ($A19.5 billion) in the year to June 30, supported by its buyout of Texas-headquartered supply chain player e2open.
The acquisition helped deliver $64 million in annualised operating profit savings, while its artificial intelligence transformation had cut $34 million from the balance sheet, chief executive Zubin Appoo said.
For more detailed information, explore updates concerning WiseTech’s Richard White’s.
