Wisetech Global Ltd's stock plummeted 5.04% during intraday trading on Thursday, reflecting significant negative investor sentiment.

The sharp decline follows recent reports highlighting the company's substantial workforce reduction as part of its AI integration strategy. According to a factbox on companies cutting jobs due to AI investments, Wisetech announced in February that it would cut 2,000 positions, representing approximately one-third of its global workforce.

Such significant restructuring efforts, while aimed at long-term operational efficiency through AI, often lead to short-term market concerns regarding implementation costs, potential operational disruption, and the broader impact of transitioning business models in response to technological shifts.