Wix's CEO, Avishai Abrahami, announced the layoffs in a post on X, highlighting a significant transformation in the way companies operate, driven by AI advancements. He emphasized that this shift is not merely about adopting new technologies but fundamentally changing organizational structures and decision-making processes.
The strengthening of the Israeli shekel against the U.S. dollar has created 'structural pressure' on Wix, prompting the need for a leaner organizational model with fewer leadership layers to enhance decision-making speed. The company has not provided further details regarding the layoffs, indicating a potential period of uncertainty for employees and investors alike