BUSINESS

Israel-based Wix cuts 20% of global workforce

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Israel-based Wix cuts 20% of global workforce

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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.

Timeline of Events

2025 Shekel appreciates about 14 percent
Early 2026 Shekel gains additional seven percent
2026 Skillsyncer records 134,000 tech job losses
2026 Meta, Cisco, Intuit, Groupon expand AI automation
Thursday Wix announces cutting about 1,000 jobs
Thursday CEO details AI-driven restructuring publicly
Thursday Roles in support, content, coding automated
Thursday Currency pressures cited increasing operational costs

Why This Matters to You

This trend of AI replacing jobs isn't just happening overseas. Big names like Meta, Cisco, and Intuit are also automating roles. If you're in tech, it's time to level up your skills. Consider learning about AI and how it's used in your field.

The Bottom Line

AI is reshaping the job market, and not always in our favor. Over 134,000 tech jobs have been lost this year alone. Stay adaptable and keep learning. Worth forwarding if you know someone in tech.