“Staff at #WiseTech have been waiting almost three months to be told if they are among the 2,000 people the logistics software company is to cut due to advances in #AI, with #workers criticising the wait as stressful and “ridiculous”.

The comments come as its founder on Tuesday told #investors an #AIAgent could learn a human’s job in just 15 minutes, according to the #AustralianFinancialReview.

The Australian Stock Exchange-listed company announced in late February that it would #LayOff almost 30% of its #workforce across 40 countries, with 2,000 of the 7,000 jobs set to go over the next 18 months.

Some areas would be hit harder than others, with product and development and customer service teams expected to be reduced by up to 50%, the chief #executive, #ZubinAppoo, told an investor briefing in February.

“The era of manually writing #code as the core act of #engineering is over,” Appoo said.”

#ZeroHourWork / #WhiteCollar / #AIAutomation / #ASX / #Australia <https://www.theguardian.com/technology/2026/may/07/your-craft-is-obsolete-wisetech-staff-in-limbo-as-ai-touted-as-better-than-humans>

‘Your craft is obsolete’: WiseTech staff in limbo as AI touted as better than humans

The software company said in February it would cut 7,000 jobs but, as it touts new technology, workers are still waiting to hear which roles will go

The Guardian
Morningstar says the Reserve Bank of Australia’s surprise rate hike signals markets had underestimated the central bank’s inflation concerns, with further tightening likely as inflation projections are revised higher.
#YonhapInfomax #ReserveBankOfAustralia #Morningstar #InterestRateHike #Inflation #AustralianFinancialReview #Economics #FinancialMarkets #Banking #Securities #Bonds #StockMarket
https://en.infomaxai.com/news/articleView.html?idxno=103612
Morningstar Says Markets Underestimated RBA’s Inflation Concerns

Morningstar says the Reserve Bank of Australia’s surprise rate hike signals markets had underestimated the central bank’s inflation concerns, with further tightening likely as inflation projections are revised higher.

Yonhap Infomax
HSBC projects the Reserve Bank of Australia will cut rates twice by February 2025, citing a surprise rise in unemployment to a four-year high and growing market expectations for monetary easing.
#YonhapInfomax #HSBC #ReserveBankOfAustralia #InterestRateCut #UnemploymentRate #AustralianFinancialReview #Economics #FinancialMarkets #Banking #Securities #Bonds #StockMarket
https://en.infomaxai.com/news/articleView.html?idxno=85874
HSBC Expects RBA to Cut Rates Twice by February Next Year

HSBC projects the Reserve Bank of Australia will cut rates twice by February 2025, citing a surprise rise in unemployment to a four-year high and growing market expectations for monetary easing.

Yonhap Infomax
‘One Hell of a Fight’: Coal Miners Again Target Alberta’s Rockies | The Tyee

Ranchers and conservationists gear up to battle Australian magnate Gina Rinehart.

The Tyee