May. 26 at 10:50 AM
$WIX Wix plans to cut 20% of workforce, Calcalist reports
Wix is preparing its largest-ever round of layoffs, with plans to cut about 1,000 jobs, or roughly 20% of its workforce, following weak earnings, a sharp stock decline, and mounting pressure on profitability amid concerns that advances in AI are reducing the need for certain roles, Calcalist's Sophie Shulman reports. The layoffs are expected to affect all departments across the company.