Read, Watch or Listen

Israel-based website-building platform Wix.com Ltd. announced on Thursday that it will cut roughly 20% of its global workforce, eliminating about 1,000 positions in what the company described as a major restructuring. Chief Executive and co-founder Avishai Abrahami said the reductions are primarily driven by the rapid integration of artificial intelligence tools, which the firm is using to automate tasks in content creation, customer support, data entry, and basic coding. He called the shift to AI the most significant change in corporate structure since the invention of modern programming languages and confirmed that many of the affected roles will be directly replaced by automated systems. Israel’s currency dynamics also played a key role in the decision, Abrahami said, noting that Wix generates most of its revenue in U.S. dollars but pays more than 60% of its 5,277 employees in Israeli shekels. The shekel appreciated about 14% against the dollar in 2025 and strengthened a further 7% in the first five months of 2026, sharply increasing the company’s operating costs. The layoffs place Wix within a broader wave of technology-sector job cuts tied to AI adoption, with real-time tracker Skillsyncer reporting that U.S. tech companies have already eliminated more than 134,000 positions across 212 layoff events in 2026, including actions at firms such as Meta, Cisco, Intuit, and Groupon.

Prepared by Christopher Adams and reviewed by editorial team.