When WiseTech Global said it would cut 2,000 jobs over two years, about one third of its workforce, it joined a list that is growing by the week. The Australian logistics software firm told investors it would automate coding tasks using artificial intelligence. Within hours, the move drew a sharp response from David Shoebridge, Greens Senator for New South Wales.
“AI is making bank for a handful of billionaires by wiping out hundreds of millions of jobs and sabotaging tax revenues. WiseTech is a symptom of this,” he wrote. “This means we need to start thinking early about radical solutions that put humans and the planet first.”
The numbers extend well beyond one company and across the globe. In recent months, job cuts have been announced across industries. The US Government’s Department of Government Efficiency has shed 317,000 roles. UPS has cut 78,000. Amazon 30,000. Intel 25,000. Citigroup and Nissan 20,000 each. Nestlé 16,000. Microsoft 15,000. Bosch and Verizon 13,000 apiece. Dell 12,000. Accenture and Ford 11,000 each. Novo Nordisk 9,000. Procter & Gamble 7,000. HP Inc. and Heineken 6,000 each. Siemens and PwC 5,600. Dow Chemical 4,500. Salesforce and Lufthansa Group 4,000 each. ANZ Bank 3,500. General Motors 3,300. ConocoPhillips 3,000. IBM and American Airlines 2,700. Morgan Stanley, Paramount and Starbucks 2,000. Target 1,800. Southwest Airlines 1,750. Meta 1,500. Applied Materials 1,444. Kroger 1,000. Nike 775. eBay 800. Block Inc., the payments company behind Square and Cash App, more than 4,000 in one round.
Australia is not insulated. Banks alone cut more than 5,000 roles in 2025. ANZ announced 3,500 job losses and the reduction of 1,000 contractors by September 2026 as part of a restructure under its new chief executive. NAB cut 410 positions in its technology and enterprise operations division. Bendigo Bank removed 158 roles across technology and mortgage services. Commonwealth Bank reduced more than 160 jobs amid broader sector changes.
‘AI is making bank for a handful of billionaires by wiping out hundreds of millions of jobs and sabotaging tax revenues. WiseTech is a symptom of this’
Telecommunications and technology firms have followed. Telstra announced 650 job cuts in February 2026, adding to 550 earlier reductions and roughly 3,300 roles shed over the past two years, with some work outsourced offshore. Atlassian cut 150 roles in customer service and support after expanding the use of AI tools. CSIRO said it would remove 500 non scientific positions in a restructuring. Universities have faced their own retrenchments. Nearly 4,000 roles were lost across public universities in 2025, with further reductions in 2026 as institutions such as UTS and Western Sydney University scaled back staffing.
Mining and resources groups have also announced cuts. BHP removed 750 roles following the closure of a coal mine. Fortescue Metals Group cut 200 positions across UK and Australian operations. In biotechnology, CSL shed around 3,000 jobs linked to the spin off of its vaccine division.
Some of these reductions stem from commodity cycles, budget pressures or strategic shifts. Yet AI is frequently cited as part of efficiency drives. The pattern mirrors developments overseas.
Jack Dorsey, co founder of Twitter and chief executive of Block, set out his reasoning in a note to staff after announcing a reduction from more than 10,000 employees to just under 6,000. “today we’re making one of the hardest decisions in the history of our company: we’re reducing our organization by nearly half, from over 10,000 people to just under 6,000. that means over 4,000 of you are being asked to leave or entering into consultation. i’ll be straight about what’s happening, why, and what it means for everyone.”
‘Work nights and weekends. Learn the AI tools and raise your game. Or you might not make the cut, as an employee or as a company’
He insisted the business was not in distress. “we’re not making this decision because we’re in trouble. our business is strong. gross profit continues to grow, we continue to serve more and more customers, and profitability is improving. but something has changed. we’re already seeing that the intelligence tools we’re creating and using, paired with smaller and flatter teams, are enabling a new way of working which fundamentally changes what it means to build and run a company. and that’s accelerating rapidly.”
He framed the decision as a choice between gradual attrition and a single break. “i had two options: cut gradually over months or years as this shift plays out, or be honest about where we are and act on it now. i chose the latter.” He added that “repeated rounds of cuts are destructive to morale, to focus, and to the trust that customers and shareholders place in our ability to lead.”
Balaji Srinivasan, a technology investor, described the move as a signal. “This is the first AI cut. And it will send shockwaves.” He argued that “for him to cut 40% of headcount in this way is a signal to everyone in tech: get good now. Become indispensable. Work nights and weekends. Learn the AI tools and raise your game. Or you might not make the cut, as an employee or as a company.” In his account, “capitalism is natural selection. The market is unforgiving, because you are the market.”
An IMF analysis published in January 2026 estimated that nearly 40% of global jobs are exposed to AI related disruption. Advanced economies face higher exposure given the share of cognitive and administrative work in their labour markets. The fund warned that without policy responses the technology could widen inequality.
That warning puts a spotlight on Mr Shoebridge’s call for early intervention. “AI is making bank for a handful of billionaires by wiping out hundreds of millions of jobs and sabotaging tax revenues. WiseTech is a symptom of this,” he wrote. “This means we need to start thinking early about radical solutions that put humans and the planet first.”
Support independent community journalism. Support The Indian Sun.
Follow The Indian Sun on X | Instagram | Facebook
Support Independent Community Journalism
Dear Reader,The Indian Sun exists for one reason: to tell stories that might otherwise go unheard.
We report on local councils, state politics, small businesses and cultural festivals. We focus on the Indian diaspora and the wider multicultural community with care, balance and accountability. We publish in print and online, send regular newsletters and produce video content. We also run media training programs to help community organisations share their own stories.
We operate independently.
Community journalism does not have the backing of large media corporations. Advertising revenue fluctuates. Platform algorithms change. Costs continue to rise. Yet the need for credible, grounded reporting in a multicultural Australia has never been greater.
When you support The Indian Sun, you support:
• Independent reporting on issues affecting migrant communities
• Coverage of local and state decisions that shape daily life
• A platform for small businesses and community groups
• Media training that builds skills within the community
• Journalism accountable to readers
We cannot cover everything, but we work to cover what matters.
If you value thoughtful reporting that reflects Australia’s diversity, we invite you to contribute. Every donation helps us maintain the quality and consistency of our work.
Please consider making a contribution today.
Thank you for your support.
The Indian Sun Team
