Wix cuts about 20% staff citing AI and shekel pressures
Business
Wix, the website builder you've probably heard of, is letting go of about 20% of its staff.
CEO Avishai Abrahami says it's because AI is moving fast and the Israeli shekel is making things tough financially:
Wix pays in shekels but earns mostly in dollars, which isn't ideal right now.
Wix reshapes roles, buys AI startups
To keep up with how AI is reshaping tech jobs, Wix wants to be more efficient and flexible. They're introducing new roles like "Xengineer" to match these changes.
This move isn't unique: big names like Meta and Snap are also cutting jobs as they adapt to AI trends.
Even with layoffs, Wix is doubling down on AI by acquiring startups like Base44 and Hour One.