Wix to Cut ~20% of Staff, Citing Shekel Surge and AI
Wix said it would cut about 20% of its staff -- just over 1,000 of its roughly 5,277 employees, with the workforce settling near 4,200 -- as CEO Avishai Abrahami cited both a strengthening Israeli shekel against the company's U.S.-dollar revenue and an AI-native pivot.
Why Did This Happen?
A strengthening shekel inflating Israel-based costs against dollar-denominated revenue
A pivot toward AI-native products and leaner operations
A Q1 earnings miss that swung the company to a $57.5 million net loss
Investor pressure after the stock fell 27% on results
Impact Analysis
The cut is one of the largest among website-builder peers in 2026 and concentrates impact in Israel, where most of Wix's team sits. It places Wix alongside Meta, Cisco, and Intuit in a wave of AI-cited restructurings that surpassed 134,000 tech jobs across 200-plus events by late May.
Affected by this layoff?
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