Citi cautious on Australia's WiseTech as planned layoffs appear delayed

WiseTech Global

04/05/2026 20:47

** Analysts at Citi suggest WiseTech Global's WTC.AX reduction of nearly a third of its global workforce is yet to start, after an analysis by the brokerage of the firm's hiring activity

** The logistics software provider announced an axing of around 2,000 jobs in late-February with its first-half results, citing AI-integration into customer software and internal operations

** Brokerage maintains "buy" rating but lifts price target to between A$65.65/shr from A$65.35/shr

** Citi says the delay is "surprising", expected co to "move quickly given it would be destabilizing for the employees and could negatively impact the product roadmap"

** Citi lowers cost-out forecasts for FY27 estimates, assuming that bulk of cuts are made in early 1H27, with full run-rate benefit from 2H27 onwards

** YTD, WTC stock down 36.5%, as of last close

 (Reporting by Shivangi Lahiri in Bengaluru)

 ((shivangi.lahiri@thomsonreuters.com))