Wix Cuts 20% of Staff as AI Shift and Strong Shekel Squeeze Costs
Updated
Updated · CNBC · May 28
Wix Cuts 20% of Staff as AI Shift and Strong Shekel Squeeze Costs
13 articles · Updated · CNBC · May 28
Wix said it will slash roughly 20% of its workforce, with CEO Avishai Abrahami announcing the cuts in a post on X early Thursday.
AI's rapid advance drove the decision, Abrahami said, calling it the biggest change in company-building since modern programming languages emerged in the 1970s.
The company also blamed currency pressure: a stronger Israeli shekel against the U.S. dollar has created what Abrahami called structural strain on operating at Wix's current scale.
Wix plans to flatten management and reduce leadership layers to speed decision-making as it reshapes how the company operates.
Is Wix's AI revolution a strategic pivot, or a convenient excuse for layoffs forced by severe economic pressures?
As Wix replaces a fifth of its workforce with AI, will its platform become smarter or simply less human-centric for users?