Wix, the Israeli website-building software company, is cutting around 1,000 jobs, approximately 20% of its workforce, the company announced on May 28, 2026 [1, 2]. CEO Avishai Abrahami attributed the layoffs to rapid advances in artificial intelligence as well as currency pressures from the Israeli shekel strengthening against the U.S. dollar [1, 2].
"We have witnessed the most significant shift in how companies are built since the invention of modern programming languages in the 1970s," Abrahami said. He explained the change is not simply about adopting new tools but "rewiring how companies are built, how they think, how they manage and how they operate" [1].
The shekel’s rise has created structural challenges for Wix, whose majority of costs are in shekels while most revenue is dollar-based. "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. This creates a structural pressure on our ability to operate," Abrahami said [2].
Before the layoffs, Wix employed just under 5,300 people, meaning about 1,000 jobs will be cut [2]. The company said it aims to become "a faster, leaner, and flatter organization with fewer management layers to improve decision speed" [1, 2].
Wix shares have declined 23% since the start of the year amid concerns about AI competition and company outlook [2].
Abrahami thanked departing employees for their work, saying, "So thank you. Thank you for the effort, for the talent, for the passion, and for the friendship" [2].
