AI Takes Out More Jobs as Atlassian Announces Layoffs

Atlassian Corp (NASDAQ:TEAM) stock is up 2.9% to trade at $77.66 at last check, after the company unveiled plans to cut 10% of its workforce, citing AI advancements. In an unorthodox approach, the software name noted those impacted will receive bonuses, extended health insurance for six months, full payment of planned parental leave, and a $1,000 stipend once company laptops are returned.Mizuho quickly responded with a price-target cut to $185 from $205, but maintained its "outperform" rating. Heading into ...