Wix cuts 20% of workforce, citing AI and currency pressure
Wix, the Israel-based web development company, is laying off approximately 1,000 employees, representing 20% of its workforce. The company attributes the cuts to currency pressure and the reshaping of its cost structure by artificial intelligence. The layoffs are part of a broader trend in the tech industry where companies are restructuring to adapt to AI-driven changes and economic challenges.
Key facts
- Wix is cutting 20% of its workforce.
- Approximately 1,000 jobs are being eliminated.
- The company is based in Israel.
- Currency pressure is cited as a reason for the layoffs.
- AI is reshaping Wix's cost structure.
- The layoffs reflect broader tech industry trends.
Entities
Institutions
- Wix
Locations
- Israel
Sources
- Quartz —