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Wix Cuts 20% of Staff Amid AI Shift
28 May
Summary
- Wix confirmed layoffs affecting approximately 20% of its global workforce.
- CEO cited rapid AI advancements as a key driver for restructuring.
- A strengthening Israeli shekel also pressures company operations.
Wix, the website-building software provider, is implementing substantial staff reductions, with CEO Avishai Abrahami confirming that approximately 20% of its global workforce will be laid off. This decision stems from the rapid advancements in artificial intelligence, which require the company to adopt a more agile and streamlined organizational structure.
Abrahami communicated to staff that the company must become faster, leaner, and flatter to adapt to these evolving technological landscapes. Furthermore, the recent strengthening of the Israeli shekel against the US dollar has introduced what he described as "structural pressure" on Wix's operational capacity and profitability.
