TL;DRWix is cutting roughly 1,000 jobs, about 20% of its workforce, in the largest layoff in company history. CEO Avishai Abrahami cited the strengthening Israeli shekel and the need to rebuild the company around AI-native roles. The stock has fallen more than 50% in 2026.
Wix is laying off approximately 1,000 employees, roughly 20% of its workforce, in the largest round of cuts in the company’s history. CEO and co-founder Avishai Abrahami announced the decision on 28 May in a message posted publicly on X and sent simultaneously to all staff. He framed the restructuring as a company-wide change driven by two forces: a currency mismatch that is making the company’s Israeli workforce increasingly expensive in dollar terms, and a fundamental shift in how software companies need to operate in the age of AI.
Wix employed 5,277 people at the end of March 2026, with more than 60% based in Israel. The cuts will reduce headcount to roughly 4,200. Affected employees will receive what Abrahami described as personally curated separation packages and will be contacted individually.
The shekel problem
The Israeli shekel has strengthened sharply against the US dollar over the past two years, rising roughly 14% in 2025 and a further 7% in the first five months of 2026. For a company that earns the vast majority of its revenue in dollars but pays the majority of its workforce in shekels, the effect is a structural cost increase that no amount of product improvement can offset.
