Wix.com Announces 20% Workforce Reduction Citing AI Adoption and Currency Appreciation

Wix.com Ltd. is implementing a significant workforce reduction, cutting approximately 1,000 jobs, which accounts for 20% of its global staff. The company attributes these layoffs to the growing adoption of artificial intelligence and the strengthening of the Israeli shekel. This strategic move aims to streamline operations and adapt to evolving technological and economic landscapes.