As Wix lays off 1,000 employees, CEO says cuts were the 'right decision'

AI Summary

Wix announced layoffs of approximately 1,000 employees, about 20% of its workforce, citing the strengthening Israeli shekel and rapid AI advancements as key reasons. CEO Avishai Abrahami stated the cuts aim to create a leaner and faster organization.

Wix is laying off approximately 20% of its workforce, impacting around 1,000 employees. This significant restructuring is driven by the strengthening Israeli shekel and the rapid evolution of AI capabilities. CEO Avishai Abrahami stated the move is necessary to create a faster, leaner, and flatter organization.