The Economic Times

Why is Atlassian going to lay off 10% workforce, and will software provider's 1,600 jobs cut announcement push company's shares upwards or downwards?

Why is Atlassian going to lay off 10% workforce, and will software provider's 1,600 jobs cut announcement push company's shares upwards or downwards? Atlassian announced about 1,600 job cuts as part of a restructuring plan. The company wants to focus on artificial intelligence and enterprise sales. Its shares moved higher in extended trading after the announcement.