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Story summary
- Atlassian will lay off 1,600 employees (10% of its workforce) as it shifts to AI and enterprise sales.
- Verizon and General Motors are among other U.S. firms cutting jobs amid rising AI investments.
- Mike Cannon-Brookes, Atlassian Chief Executive Officer, says AI will not fully replace jobs but will change skills.
- The restructuring is expected to be completed by the end of the fourth quarter, costing $225 million to $236 million.
