ASX rises as WiseTech cuts 2,000 jobs, Woolworths hit
Synopsis
The ASX 200 rose as WiseTech Global announced 2,000 job cuts linked to an AI-driven restructuring while reporting strong first-half revenue growth. Woolworths posted a 16% rise in underlying profit and higher food sales. The developments influenced technology and consumer staples stocks, shaping the latest ASX market update and reflecting sector shifts across Australian equities.
The ASX 200 moved higher as WiseTech Global confirmed 2,000 job cuts under an AI-driven restructure and reported strong first-half revenue growth. Woolworths posted a 16% increase in underlying half-year profit, lifting consumer staples shares. Technology and retail developments shaped the latest ASX market update.
Key Highlights
- ASX 200 rose as WiseTech and Woolworths released major updates.
- WiseTech to cut 2,000 jobs, about 29% of workforce.
- WiseTech first-half revenue climbed 76% to US$672 million.
- Woolworths reported 16% rise in half-year underlying profit.
The ASX market update on Tuesday showed the benchmark S&P/ASX 200 index moving higher, supported by gains in technology and consumer stocks, as investors reacted to major company announcements from WiseTech Global and Woolworths Group.
WiseTech said it plans to cut about 2,000 roles globally as part of an artificial intelligence-led overhaul of its operations. The reductions represent approximately 29% of its workforce of around 7,000 employees and will be implemented over two years. The Sydney-based logistics software provider reported first-half revenue of $672 million, up 76% from a year earlier, and underlying net profit of $114.5 million, a 2% increase.
Shares in WiseTech rose sharply following the release of the results and restructuring plan. The company said AI tools will be integrated more broadly into its product development and internal systems.
WiseTech layoffs reshape technology workforce
The WiseTech layoffs mark one of the larger workforce reductions announced by an Australian-listed technology company this year. The logistics software sector has expanded alongside global trade digitisation, with companies increasingly adopting automation to manage supply chain data and freight operations.
WiseTech develops CargoWise software used by freight forwarders and logistics operators across multiple markets.
Woolworths' profit lifts retail sentiment
Woolworths reported a 16% rise in underlying net profit after tax to A$859 million for the first half of fiscal 2026. Sales in its Australian food division increased 3.6% to A$27.63 billion. The retailer declared an interim dividend of 45 cents per share.
The Woolworths profit result supported gains in consumer staples stocks and contributed to broader ASX 200 strength. Woolworths remains one of Australia’s largest listed retailers, with annual group revenue exceeding A$64 billion in its most recent full-year results.
The ASX market update reflects mixed sector performance, with technology stocks leading gains while investors assessed retail earnings and corporate restructuring announcements.
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Pooja Malik is a business journalist with over six years of experience covering startups, entrepreneurship, and emerging trends. She has previously worked with leading media platforms such as YourStory Media and BW BusinessWorld, where she reported on business, policy, and market developments. Currently, she serves as Editor at The Inspirepreneur Magazine, where she writes and edits stories across business, lifestyle, and travel, with a focus on clarity, accuracy, and reader relevance.
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