Wix CEO Avishai Abrahami has announced a major restructuring, including a roughly 20% workforce reduction. The decision was driven by unfavourable Shekel-to-Dollar exchange rates and the rapid evolution of AI capabilities.
The company is shifting to a 'flatter, leaner organisation' to speed up decision-making and remain competitive in an AI-native tech landscape.
Abrahami expressed gratitude to departing employees, promising personally curated separation packages and respect for those leaving the company.
The decision aims to ensure Wix remains healthy, durable, and positioned to lead in the new era of AI-driven technology.
