A HOT POTATO: The AI jobs apocalypse that Sam Altman is glad isn't happening continues not to happen. The latest company to lay off a large portion of employees is Wix, which is cutting 20% of its workforce while citing the "fast evolution" of AI.
CEO Avishai Abrahami wrote on X that reducing the Wix team by 20%, or around 1,000 people, was a "hard decision" (four times).
Abrahami said the first reason why the website builder is cutting staff is the exchange rate between the Israeli shekel and the US dollar. He said the shekel has strengthened against the dollar in recent quarters, creating a "structural pressure" on Wix's ability to operate at scale.
Then there's the very familiar second reason: "the fast evolution of AI capabilities." Abrahami writes that "we have witnessed the most significant shift in how companies are built since the invention of modern programming languages in the 1970s."
"This is not just about adopting new tools - it is about rewiring how companies are built, how they think, how they manage and how they operate. Companies that embrace this change will not only build faster; they will build things the previous generation literally could not have imagined."
