Wix Is the Latest To Cut 20% of Jobs While Citing AI (fastcompany.com)
(Saturday May 30, 2026 @11:34PM (BeauHD)
from the no-code-no-jobs dept.)
Wix is [1]laying off roughly 20% of its workforce , about 1,000 employees, as CEO Avishai Abrahami cites both the rapid evolution of AI and currency pressure from a stronger Israeli shekel against the dollar. The web developer joins a growing list of tech companies making similar cuts, including [2]Amazon , [3]Block , [4]Cisco , [5]Cloudflare , [6]Meta , [7]Microsoft , [8]Oracle and [9]Intuit . Fast Company reports:
> "We have witnessed the most significant shift in how companies are built since the invention of modern programming languages in the 1970s," [ [10]wrote Abrahami]. "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."
>
> Abrahami also cited the poor exchange rate between the Israeli shekel and the U.S. dollar. The Israeli currency has significantly strengthened in the past few quarters against a weakening dollar, and the shekel is [11]up nearly 30% against the greenback over the last year.
>
> "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," Abrahami explained 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."
[1] https://www.fastcompany.com/91549928/wix-layoffs-today-job-cuts-latest-tech-company-to-cite-ai-israel
[2] https://slashdot.org/story/25/11/21/1626239/amazon-cut-thousands-of-engineers-in-its-record-layoffs-despite-saying-it-needs-to-innovate-faster
[3] https://slashdot.org/story/26/02/26/2250206/jack-dorseys-block-cuts-nearly-half-of-its-staff-in-ai-gamble
[4] https://slashdot.org/story/26/05/14/060203/cisco-to-cut-almost-4000-jobs-in-ai-driven-restructuring
[5] https://slashdot.org/story/26/05/08/040251/cloudflare-to-cut-about-20-workforce-as-ai-adoption-reshapes-operations
[6] https://meta.slashdot.org/story/26/05/19/0027253/before-mass-layoffs-meta-reassigns-7000-workers-to-focus-on-ai
[7] https://slashdot.org/story/25/06/03/1835226/microsoft-cuts-hundreds-of-jobs-after-firing-6000-in-may
[8] https://developers.slashdot.org/story/26/03/31/2023228/oracle-cuts-thousands-of-jobs-across-sales-engineering-security
[9] https://slashdot.org/story/26/05/20/2038203/intuit-to-lay-off-over-3000-employees-to-refocus-on-ai
[10] https://x.com/Avishai_ab/status/2059909925615047003?s=20
[11] https://finance.yahoo.com/markets/stocks/articles/israeli-website-creator-wix-com-103058636.html
> "We have witnessed the most significant shift in how companies are built since the invention of modern programming languages in the 1970s," [ [10]wrote Abrahami]. "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."
>
> Abrahami also cited the poor exchange rate between the Israeli shekel and the U.S. dollar. The Israeli currency has significantly strengthened in the past few quarters against a weakening dollar, and the shekel is [11]up nearly 30% against the greenback over the last year.
>
> "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," Abrahami explained 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."
[1] https://www.fastcompany.com/91549928/wix-layoffs-today-job-cuts-latest-tech-company-to-cite-ai-israel
[2] https://slashdot.org/story/25/11/21/1626239/amazon-cut-thousands-of-engineers-in-its-record-layoffs-despite-saying-it-needs-to-innovate-faster
[3] https://slashdot.org/story/26/02/26/2250206/jack-dorseys-block-cuts-nearly-half-of-its-staff-in-ai-gamble
[4] https://slashdot.org/story/26/05/14/060203/cisco-to-cut-almost-4000-jobs-in-ai-driven-restructuring
[5] https://slashdot.org/story/26/05/08/040251/cloudflare-to-cut-about-20-workforce-as-ai-adoption-reshapes-operations
[6] https://meta.slashdot.org/story/26/05/19/0027253/before-mass-layoffs-meta-reassigns-7000-workers-to-focus-on-ai
[7] https://slashdot.org/story/25/06/03/1835226/microsoft-cuts-hundreds-of-jobs-after-firing-6000-in-may
[8] https://developers.slashdot.org/story/26/03/31/2023228/oracle-cuts-thousands-of-jobs-across-sales-engineering-security
[9] https://slashdot.org/story/26/05/20/2038203/intuit-to-lay-off-over-3000-employees-to-refocus-on-ai
[10] https://x.com/Avishai_ab/status/2059909925615047003?s=20
[11] https://finance.yahoo.com/markets/stocks/articles/israeli-website-creator-wix-com-103058636.html