Wix cuts – Israel-based website builder Wix says it is cutting roughly 20% of its workforce—about 1,000 jobs—citing the fast evolution of AI and “structural pressure” from a weak U.S. dollar versus the Israeli shekel.
By Thursday afternoon, Wix had already translated the AI boom into something far more immediate for its workforce: job cuts.
The website builder announced it is laying off roughly 20% of its employees, a figure the company estimates at about 1,000 people. The message came in a post from CEO Avishai Abrahami on X and LinkedIn.
Abrahami framed the decision as part of a fundamental change in how companies are built. “We have witnessed the most significant shift in how companies are built since the invention of modern programming languages in the 1970s. ” his post said. “This is not just about adopting new tools – it is about rewiring how companies are built. how they think. how they manage and how they operate. Companies that embrace this change will not only build faster; they will build things the previous generation literally could not have imagined.”.
Beyond AI, Wix pointed to currency forces that have become a financial constraint for firms with mixed revenue and cost currencies. Abrahami said a weak dollar has produced a “poor exchange rate with the Israeli shekel.”
He explained that the mismatch is structural: “As the majority of our teams are Israel-based. a very meaningful portion of our costs are shekel-denominated. while our revenue is largely dollar-denominated. ” he wrote on X. “This creates a structural pressure on our ability to operate at our current scale. It is a reality that directly shapes what is sustainable for our company.”.
The layoff announcement lands in a broader wave of corporate restructuring. The company’s statement arrives as other major firms—including Meta, Cisco, Groupon, and Intuit—have recently cited the “fast evolution” of AI as they announced their own job cuts.
Financially, Wix’s situation has also been under strain. Shares of Wix.com Ltd. (Nasdaq: WIX) were up less than 1% in midday trading on Thursday at the time of this writing. Still. Wix has not been immune to the market’s pressure: since the beginning of 2026. its shares have slid nearly 50% on the Nasdaq exchange. The company last reported earnings on May 13, posting results that missed expectations in multiple areas.
Wix’s first-quarter 2026 revenue came in at $541.2 million, slightly below the expected $543.6 million. Adjusted earnings per share (EPS) was $0.68, missing expectations of $1.22 by 44.2%. The company also reported an operating margin in the red at -12.9%. down from 7.9% in the same quarter a year earlier.
Taken together. Wix’s statement is clear about the direction it wants to go—faster building. rewired operations. and teams shaped around an AI-powered future. The timing. though. is what makes the impact hardest: a 20% workforce reduction. alongside a company that has already been facing weaker trading performance and a costly shift in quarterly results.
Wix layoffs AI workforce cuts Avishai Abrahami Israeli shekel dollar exchange rate Nasdaq WIX website builder layoffs 2026 earnings corporate restructuring
AI strikes again I guess.
So they’re blaming a weak U.S. dollar?? Like… couldn’t they just hedge or something? Feels like the AI thing is the real excuse.
My cousin used Wix for his business and said it’s basically magic now, so of course they laid people off. But the “rewiring companies” quote is wild, like they’re doing a TED talk while firing 1,000 people. Also what does Israeli shekel have to do with my internet pages lol.
This is why I don’t trust companies with “AI acceleration” headlines. They say 20% and it sounds small til you realize that’s like a whole building of people gone. And then the weak dollar/shekel thing makes it sound like it’s totally unavoidable, but companies always find a way to make it not their problem. I’m sure they’ll still be advertising Wix like nothing happened.