Wix Cuts 1,000 Jobs Amid AI Transition
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3 Articles
Wix cuts 1,000 jobs amid AI transition
Israeli software company Wix is preparing for layoffs that would affect 800-1000 employees, which would come to around a quarter of its workforce. Wix employed 5,277 people at the end of the first quarter and more than 60% of staff are based in Israel, according to the company. The cuts come in spite of an increase in revenue. While there was a 14% growth in revenue in the last quarter, Wix returned to a quarterly net loss of $57.5 million. $1.6…
Wix Plans 1,000 Layoffs Amid AI Restructuring
Reportedly, one-fifth of Wix's worldwide workforce—about 1,000 jobs—is set to be laid off. This can be considered one of the most significant restructuring initiatives in the organisation's history. Layoffs are taking place as a result of the growing impact of AI on company's operations. The website-building company's management informed their employees that some development and design tasks were now easier to do with the help of AI.According to…
Wix, the Israeli-based website building service, is reportedly embarking on a massive workforce reduction following poor performance and a decline in its stock price since the beginning of the year. Approximately 1,000 employees, or about 20% of its workforce, are expected to be laid off over the next few months, making it the company's largest layoff to date.
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