Wix Is the Latest To Cut 20% of Jobs While Citing AI (fastcompany.com)
- Reference: 0183438578
- News link: https://slashdot.org/story/26/05/28/2113232/wix-is-the-latest-to-cut-20-of-jobs-while-citing-ai
- Source link: https://www.fastcompany.com/91549928/wix-layoffs-today-job-cuts-latest-tech-company-to-cite-ai-israel
> "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
AI companies are begging them to stop (Score:3, Interesting)
Not with the layoffs, everybody loves layoffs right? That's why we keep voting for them.
But they really want companies to stop blaming layoffs on AI because it's weird but with AI devouring jobs, water and electricity the public isn't entirely happy with it. I can't imagine why.
How? (Score:1)
> and currency pressure from a stronger Israeli shekel against the dollar
Is the Shekel really stronger? Or is the dollar just going into the toilet? I'm seeing more and more international boycotts against Israel.
Re: (Score:3, Insightful)
I'm seeing more and more international boycotts against Israel.
As well there should be. At this point they're not much different than Russia.
Re: (Score:2)
For the fragile types who can't take any criticism of Israel. [1]https://www.bbc.com/news/artic... [bbc.com]
[1] https://www.bbc.com/news/articles/ceqpelq5reqo
Re: (Score:1)
Israel has a population of 10 million and the USA gives them billions of dollars every year. Do the math on that one.
Oh, not that Wix (Score:2)
I was worried for a moment, but it's not these guys.
[1]https://www.wixfilters.com/en-... [wixfilters.com]
[1] https://www.wixfilters.com/en-us.html
Re: (Score:2)
> I was worried for a moment, but it's not these guys.
> [1]https://www.wixfilters.com/en-... [wixfilters.com]
True. Makes you wonder what could come from AI-enhanced 3D printing of filters though.
LEAP 71 is already doing incredible things with rocket engines.
[1] https://www.wixfilters.com/en-us.html
Ride that wave over the cliff (Score:3)
The glory days of using AI to build a shitty web site with 20% fewer people hours, right before everyone realizes that there's no point to building web sites anymore.
Lack of imagination (Score:3)
> Companies that embrace this change will not only build faster; they will build things the previous generation literally could not have imagined.
Says someone who obviously has never read any science fiction ever.
Re: (Score:2)
Funny thing is that it's literally the opposite, it's the worst at stretching the imagination.
Just saw a claude commercial, and their pitch was "hey, you can use us to make a knock-off dropbox"
Their big stunt a while back was "we made a knock-off C compiler"
Everything is about making knock offs because that's what GenAI can do. It can certainly tailor the knock off in ways that were easier than what it formerly took, but roughly knock-off in their bread and butter
Well, this is believable... (Score:3)
A generic site builder... Yeah that's pretty firmly in the reach of GenAI...
Re: (Score:2)
I expect they're worried about being replaced by AI themselves. Cost cutting here is probably pre-emptive.
You can build pretty decent sites with $20 Claude Pro, no WordPress or other knowledge required.
TIL (Score:5, Informative)
That Wix is Israeli.
Re: (Score:1)
> That Wix is Israeli.
Hell, I was trying to figure out why we were suddenly talking about oil filter manufacturer layoffs here..
[1]https://www.wixfilters.com/ [wixfilters.com]
[1] https://www.wixfilters.com/