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About 1,000 employees — nearly one in five — are being shown the door at Wix, a move CEO and co-founder Avishai Abrahami has described as the deepest restructuring the company has ever undertaken. In a public X $TWTR 0.00% post that went out to employees at the same time it went live, Abrahami pointed to two catalysts: the growing cost burden created by a strengthening shekel against a dollar-denominated revenue base, and the imperative to reorient the business around artificial intelligence.
At the close of the first quarter of 2026, Wix's headcount stood at 5,277, with Israel accounting for the majority — more than 60% — of that total, according to The Next Web. Once the reductions are complete, the company's total workforce is expected to settle at around 4,200. Those losing their jobs will be reached out to one-on-one and given what Abrahami called personally tailored severance arrangements.
Because Wix collects revenue predominantly in dollars while its largest employee base draws salaries in shekels, the currency's appreciation has quietly inflated the company's cost base in ways that cannot be engineered away, Abrahami said. Against the dollar, the shekel gained approximately 14% over the course of 2025 and has added another 7% through the first five months of this year, according to The Next Web.
