According to the CEO, the fact that the company has shekel-dominated costs and dollar-denominated revenue made it impossible to keep its current operations running without cutting back.

Wix is preparing to lay off about 1,000 employees, roughly 20% of its workforce, in the largest round of job cuts in the company's history. The Israeli website-building firm is…

Wix is set to cut 1,000 jobs, about 20% of its workforce, as artificial intelligence increasingly handles tasks within the company.