Major Australian technology companies including Atlassian, WiseTech, and Block are cutting thousands of jobs as artificial intelligence demonstrates significant productivity gains. Atlassian is eliminating 1,600 positions globally with 500 affecting Australian workers, while WiseTech is reducing 2,000 roles and Block is cutting 40% of its workforce. The tech sector job losses coincide with substantial share price declines, with Atlassian down 50% year-to-date and WiseTech falling 45% over 12 months, affecting many Australians' superannuation investments.

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