Wix cuts 20% of workforce in AI and currency restructuring Wix is laying off approximately 1,000 employees, about 20% of its workforce, citing a strengthening Israeli shekel and a fundamental shift towards AI-native operations. This restructuring aims for a flatter organization and new roles focused on AI, following significant stock performance issues and increasing operating expenses. The move aligns with broader tech industry trends of AI-driven job cuts and reorganizations.

• Wix is laying off about 1,000 employees, representing 20% of its workforce, in its largest-ever job cuts.
• The layoffs are attributed to the strengthening Israeli shekel against the US dollar, increasing labor costs, and a necessary pivot to AI-native workflows.
• Wix’s stock has dropped over 50% in 2026, with first-quarter earnings missing expectations and operating expenses surging.
• The company is restructuring into a flatter organization with new AI-focused roles like xEngineer.
• This mirrors a trend across the SaaS industry where companies are reducing staff, believing AI can perform or augment many tasks. Continue reading https://foxvector.com/articles/5c458393-bd8f-42c0-b149-7e5c641623d3