{"id":471406,"date":"2026-05-28T14:25:07","date_gmt":"2026-05-28T14:25:07","guid":{"rendered":"https:\/\/www.newsbeep.com\/ie\/471406\/"},"modified":"2026-05-28T14:25:07","modified_gmt":"2026-05-28T14:25:07","slug":"wix-laying-off-about-20-of-its-workforce-ceo-cites-ai-in-post","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ie\/471406\/","title":{"rendered":"Wix laying off about 20% of its workforce. CEO cites AI in post"},"content":{"rendered":"<p>Israel-based web development company <a href=\"https:\/\/www.cnbc.com\/quotes\/WIX\/\" rel=\"nofollow noopener\" target=\"_blank\">Wix<\/a> is slashing roughly 20% of its workforce, CEO Avishai Abrahami announced in a <a href=\"https:\/\/x.com\/Avishai_ab\/status\/2059909925615047003?s=20\" target=\"_blank\" rel=\"nofollow\">post on X<\/a> early Thursday morning, citing the &#8220;fast evolution of AI capabilities&#8221; and difficulties around currency exchange rates.<\/p>\n<p>&#8220;We have witnessed the most significant shift in how companies are built since the invention of modern programming languages in the 1970s. This is not just about adopting new tools &#8211; it is about rewiring how companies are built, how they think, how they manage and how they operate,&#8221; Abrahami wrote, saying that the company would move toward fewer layers of leadership to make faster decisions.<\/p>\n<p>Abrahami said that as the <a href=\"https:\/\/www.cnbc.com\/quotes\/ILS=\/\" rel=\"nofollow noopener\" target=\"_blank\">Israeli shekel<\/a> continues to strengthen against the U.S. dollar, the exchange rate put a &#8220;structural pressure&#8221; on the company&#8217;s ability to operate at its current scale. <\/p>\n<p>Wix did not immediately respond to CNBC&#8217;s request for confirmation or additional details on the layoffs.<\/p>\n<p><a href=\"https:\/\/www.google.com\/preferences\/source?q=https:\/\/www.cnbc.com\/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Israel-based web development company Wix is slashing roughly 20% of its workforce, CEO Avishai Abrahami announced in a&hellip;\n","protected":false},"author":2,"featured_media":471407,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20],"tags":[220,218,219,203608,726,122,61,60,3410,150,80,203606,203607,7228],"class_list":["post-471406","post","type-post","status-publish","format-standard","has-post-thumbnail","category-artificial-intelligence","tag-ai","tag-artificial-intelligence","tag-artificialintelligence","tag-avishai-abrahami","tag-breaking-news-technology","tag-business-news","tag-ie","tag-ireland","tag-israel","tag-jobs","tag-technology","tag-us-dollar-israeli-shekel-fx-spot-rate","tag-wix-com-ltd","tag-world-economy"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/471406","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/comments?post=471406"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/471406\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/471407"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=471406"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=471406"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=471406"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}