Wix cuts 1,000 jobs, cites currency pressure and AI pivot

Wix, a leading website-building platform, announced it is laying off approximately 1,000 employees, representing roughly 20 percent of its global workforce. The cuts, confirmed by CEO Avishai Abrahami in a public message on May 28, constitute the largest layoff in the company's history and will reduce headcount from 5,277 to around 4,200.

Abrahami cited two primary forces behind the decision. The first is a significant currency mismatch, as the company earns revenue in U.S. dollars but pays more than 60 percent of its workforce in Israeli shekels. The shekel has appreciated sharply against the dollar, rising approximately 14 percent in 2025 and another 7 percent in the first five months of 2026, creating what Abrahami described as a structural cost pressure.

The second driver is a strategic shift to rebuild the company around artificial intelligence. Abrahami characterized the current moment as the most significant shift in how companies are built since the invention of modern programming languages. As part of this pivot, Wix is flattening its organizational structure by removing management layers and creating new roles designed for AI-native workflows. These include positions...