Wix laying off about 20% of its workforce. CEO cites AI, exchange rates in announcing cut
AI Summary
Israeli-based Wix is cutting about 20% of its workforce, citing impacts from AI evolution and exchange rate fluctuations. The workforce reduction reflects broader tech sector challenges and strategic adjustments by the company.
Israel-based web development company Wix is slashing roughly 20% of its workforce, CEO Avishai Abrahami announced in a post on X early Thursday morning.
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