Wix CEO cites AI and currency pressures in announcing 20% workforce reduction
By
Hillary Remy
The bagel they save for the regulars. Don't skim, savour.
Summary
Wix CEO Avishai Abrahami announced the company is cutting approximately 1,000 employees (20% of its global workforce) — the largest layoff in company history. The announcement was made publicly on X (formerly Twitter) and sent directly to all employees. Abrahami cited AI as a key factor driving the restructuring, along with the impact of the Israeli shekel on the company's operations. The memo was notable for its directness and transparency about the future direction of the company.
Key quotes
· 3 pulledIt was one of the most direct public explanations a tech CEO has given for cutting a fifth of their workforce.
Abrahami confirmed on May 28 that Wix is cutting roughly 1,000 employees.
This is approximately 20% of its global workforce and the largest round of layoffs in the company's history.
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