Atlassian cuts 1,600 jobs, or 10% of its workforce, to invest in artificial intelligence

The software company Atlassian announced it is cutting about 1,600 jobs, which is roughly 10% of its global workforce. The company's CEO said the layoffs are part of a plan to reallocate resources and invest more in artificial intelligence.

Some reports described the layoffs as a 'devastating blow' to workers. The company's billionaire co-founders have reportedly held meetings about how to adapt the business to the rise of AI.