Atlassian Cuts 1600 Jobs, Embraces AI

0:00In Sydney, it's March 13th. Here's what is happening. At Lassian, Australia's largest tech company announced on Thursday that it's cutting 10% of its global workforce, or about 106. Hundred jobs. Chief Executive Mike Cannon Brooks called it the toughest day of his leadership, and apologized for the disruption to employees' lives. The move is the biggest restructure in the company's history, aimed at funding more investment in artificial intelligence and sales. Earlier this week, insiders were surprised the layoffs weren't deeper, predicting more rounds ahead. The company had ballooned from about 1,760 staff in 2016 to over 13,000 by this year, fueled by raven. Hiring, lavish parties, and a work from anywhere policy. Cannon Brooks had boasted last October about having more engineers in five years, but now faces a sharp reversal. Staff reactions have been raw, with some feeling the cuts were random and the company's fun image turned hollow. Former workers described it as an end of day's vibe, especially after years of remote work and big summits.

1:05Industry voices, including a labor politician, warn that artificial intelligence is hitting tech jobs hard, urging governments to manage the risks. Better, meanwhile, artificial intelligence is reshaping at Lassian's business model. Its tools like Jira thrived on peruser fees from a growing pool of developers worldwide, but fewer engineers at big tech firms mean fewer customers. New AI native rivals are emerging, and research shows programmers' tasks are 75% automatable. Cannon Brooks insists the company is all in on artificial intelligence to adapt, despite challenges like a plunging share price and no profit since, 2015. With personal ventures and energy and sports on the side, he'll soon address staff at a conference on human AI collaboration, betting on this shift for. The future? This story is shared with support from our sponsor. Sound on, lights out, that is the routine, solypillo.com.